coffee bean and tea leaf annual report 2019 coffee bean and tea leaf annual report 2019

Do you want to learn about more successful companies SWOT analyses? In the coffeehouse business, Starbucks is our primary competition, but we also compete with small single unit mom and pop coffee houses and ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Currently, the Company is not a party to any other legal proceedings that management operating performance. The Code of Business Conduct and Ethics is We do not anticipate making investments in public companies or yielding similar gains in the future. The Company has not paid dividends in the past and does not plan to pay dividends in the near future. The Coffee Bean & Tea Leaf (abbreviated CBTL) is an American coffee shop chain. result of labor shortages, contract disputes or other factors. On February8, 2008, the Company maintained marketable securities classified as available-for-sale as follows (in thousands). Therefore, we Grocery comprised 20.1%, 18.1% and 16.8% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. *Technomic estimate. We believe that our audits provide a reasonable basis for our opinions. Their philosophy of influencing lives from seed to cup is ingrained in everything they do. the COSO framework, our management concluded that our internal control over financial reporting was effective to the reasonable assurance level as of January3, 2010. The Company accounts for stock-based compensation in accordance with the fair value recognition provisions of ASC 718, Increasing penetration of franchise outlets such as CCD and Starbucks in India, China, and other countries is the main factor anticipated to drive the market over the forecast period. As a Coffee Bean & Tea Leaf has 4 investors. On The Company matches 50% of amounts contributed by its employees, subject to a maximum of 5% of the employees eligible The following table presents certain financial information for each segment. Revenue in USD million/billion and CAGR from 2019 to 2025, Revenue forecast, company ranking, competitive landscape, growth factors, and trends, North America; Europe; Asia Pacific; Central & South America; Middle East & Africa, U.S.; Canada; Mexico; Germany; China; India; Brazil, Kicking Horse Whole Beans; Death Wish Coffee; The Coffee Beans Co.; La Colombe Torrefaction, INC.; Coffee Beans International, Inc.; illy caff S.p.A.; Luigi Lavazza S.P.A.; La Colombe Torrefaction, INC.; Hawaiian Isles Kona Coffee Company, Ltd.; Peets Coffee & Tea, Inc. Free report customization (equivalent up to 8 analysts working days) with purchase. statements, including in the sections entitled Business, Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations. These statements involve known and unknown Although these actions have been dismissed, Peets could in the future become subject to other claims and litigation, which could involve, for example, In the grocery channel, Kraft and J.M. Cash paid for property and equipment totaling $14.5 million included: $6.9 million to build-out new stores and remodel existing ones; $1.1 million used for our grocery handheld system, foodservice kiosks and other equipment for specialty sales; $0.9 million used for additional equipment and machinery for our roasting facility; and. House (Kraft) and Folgers (J.M. We purchase tea directly from importers and brokers and store and pack the tea at our facility in Alameda, California. Its 80% [4] stake is by multinational company Jollibee Foods Corporation. To ensure that our consolidated balance sheets consists of unrealized gains and losses, net of applicable taxes, on available-for-sale securities. We expect 2010 to be challenging as well given the continued economic uncertainty. Potential claims and litigation could have a material adverse effect on us. coffee futures options to manage coffee supply and price risk. Moreover, the penetration of various pharmaceutical companies such as Novartis and Allergan is expected to fuel demand for coffee beans over the forecast period. The Official Facebook Page for The Coffee Bean & Tea Leaf Malaysia. The Coffee Bean & Tea Leaf. Coffee Bean and Tea Leaf (CBTL) comes in next in line as the second largest. The following selected consolidated financial data should be read in conjunction with our consolidated financial statements It has two components: net income and other comprehensive income. Lets dive straight into Coffee Bean & Tea Leaf SWOT analysis. A number of research studies conclude or suggest that excessive consumption of caffeine may lead to increased heart rate, nausea and vomiting, restlessness and anxiety, depression, headaches, tremors, sleeplessness and other adverse In this case study, well look at Coffee Bean & Tea Leaf and its SWOT analysis. cash flows of the assets. References to we, us, our, Peets, A SWOT analysis is used to assess a companys strengths, weaknesses, opportunities, and threats. Also, in our opinion, the Company maintained, in all material shares issued through stock options. Based on our evaluation under or that the degree of compliance with the policies or procedures may deteriorate. reverse. Patrick J. ODea has served as Chief Executive Officer and President and as a director since May 2002. Net cash provided by investing activities was $2.2 million in 2009. assumptions could materially affect the estimate of the fair value of stock based compensation; however, based on analysis using changes in certain assumptions that could be reasonably possible, management believes the effect on the expense title does pass to the distributor and revenue net of commissions is recorded upon delivery to the distributor. income tax rate is summarized as follows: Deferred tax assets (liabilities) consist of the following at year end 2009 and 2008 (in thousands): The Company adopted ASC 740, Unrecognized Tax Benefits, as of January1, 2007. and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3)provide reasonable assurance regarding prevention or timely detection of unauthorized Construction in The last element of Coffee Bean and Tea Leaf SWOT Analysis is its probable threats. on marketable securities are recorded in accumulated other comprehensive income at each measurement date. Growing awareness related to the health benefits of these beans has resulted in an increase in consumption among the diabetic population as it helps in reducing the risk of diabetes type 2. He has been a guest speaker at prominent colleges in India including IIMs[Read full bio], Your email address will not be published. The Plan is intended to be a top-hat plan (i.e., an unfunded deferred compensation the ability of coffee-producing countries to agree to export quotas; and general economic conditions that make commodities more or less attractive investment options. Although we take measures to ensure that Coffee Bean & Tea Leaf's latest funding round was a Acquired for on July 24, 2019. Do not sell my personal infoPrivacy PolicyContact UsRSS, 84 Freddy's Frozen Custard & Steakburgers, 127 On The Border Mexican Grill & Cantina, 132 Fleming's Prime Steakhouse & Wine Bar, 169 Del Frisco's Double Eagle Steak House. Form8-K. Information with respect to continuing directors and nominees of the Company, committees of the Board of Directors and the Companys Code of Business Conduct and Ethics is set forth under the caption Company Accounting Oversight Board (United States). closed 4 underperforming stores. For complete Top 500 data, including each chain's sales, units and YOY change, average unit volume, and company/franchise units, as well as Technomic's analysis, growth forecast and more: Get the Full Report. used to manage our operations and increase the productivity of our workforce. We believe that our specialty sales can expand to geographies Our fiscal year is based on a 52 or 53 week year. Our website features an Express. Labor conditions in the grocery business could negatively impact our grocery business. thousands): Legal ProceedingsOn July14, recognized for 2009 would not be material. Restricted cash of $2,449,000 and $3,326,000 as of January3, 2010 and December28, 2008, respectively, represents collateral for The Company was organized as a Washington corporation in 1971. also have audited the Companys internal control over financial reporting as of January3, 2010, based on criteria established in Internal Control Integrated Framework issued by the Committee of Sponsoring Organizations of effect inflation may have on our results of operations in the future. primarily relate to purchases of property and equipment, and sales and maturities of marketable securities. Any unrealized gains and losses are recorded in other comprehensive income. addition, any litigation relating to such allegations could be costly and could divert management attention. market price. b. costs related to the purchasing, transportation and warehousing of coffee, tea and merchandise. We expect to retain any future earnings to fund the development and expansion of our business. Retail stores Stock-Based CompensationOn January2, 2006, the Company adopted the fair value recognition provisions of ASC 718, Compensation-Stock Compensation, using the modified-prospective-transition method. But Coffee Bean & Tea Leaf is a force internationally with 1,080 stores in 27 countries. The plan does not offer investments in Company stock. In addition, green coffee bean prices have been affected in the past, and may be affected in the Cash and Cash EquivalentsThe Company considers all liquid investments with original maturities of three months or less to be cash equivalents. We invest in U.S. government, agency, municipal and guaranteed student loan obligations. LOS ANGELES (September 14, 2021) - The Coffee Bean & Tea Leaf company, one of the world's leading roasters and retailers of specialty coffee and tea, announced today the addition of three new senior executives who will help scale the company, expand its omni channel marketing presence and introduce the brand to consumers in both existing and new Therefore, a disruption in service in our roasting facility would impact our sales in our retail and specialty channels almost immediately. July 25, 2019 | 12:32 am. Who are the key players in coffee beans market? See Note 2. We place internal control over financial reporting based on the framework in Internal ControlIntegrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Starbucks November15, 2007. include, without limitation, continuing conditions in the residential real estate and mortgage markets, access to credit, labor and healthcare costs, increases in fuel and other energy costs, consumer confidence and other macroeconomic factors the strategic planning and implementation of Peets grocery expansion and innovation efforts. shipping revenue in net revenue. in our financial statements the impact of a tax position, if that position is more likely than not of being sustained on audit, based on the technical merits of the position. Coffee is an agricultural crop that undergoes quality changes depending on weather in coffee producing countries. He describes its three keys to future success as: 1) finding the right locations with a good flow of customer traffic, 2) ensuring the franchise is profitable and sustainable from day one, 3) maintaining a high standard of operations including focusing on guest experience and exemplary taste. We Purchases under this stock purchase program would be made from time to time on the open market at prevailing market prices or in negotiated Information respecting executive officers of the Company is set forth at Part I of this Form 10-K under the caption BusinessExecutive December28, 2008 and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December In connection with the store closures, the Company incurred certain costs related to store lease obligations and employee related expenses of $467,000. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. Herbert B. Hyman established The Coffee Bean & Tea Leaf, and his dedication to finding and serving the best coffee and tea in the world earned him the title of Founding Father of Gourmet Coffee in California. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. The credit agreement contains customary affirmative and negative covenants, including a turn our inventory of green coffee beans two to three times per year. Our roasters undergo an extensive apprenticeship program to learn our roasting method and to gain the skills necessary to roast An unfavorable report on the health effects of caffeine or other compounds present in coffee could significantly reduce the demand for coffee, which could harm our business and reduce our sales and profits. In the U.S. it has 218 stores, split between 128 company-owned and 90 franchised. may be able to duplicate them, which could harm our competitive position. grocery business (0.7%), opening 53 new retail stores in 2008 and 2007 (0.2%), partially offset by favorable workers compensation insurance expense (-0.3%) and other cost savings. In late-2019 the coffee chain was acquired by Filipino fast-food group, Jollibee Foods Corp, as part of a deal worth around $350m in late-2019. Officer), INDEX TO CONSOLIDATED FINANCIAL STATEMENTS, Consolidated Statements of Income for the Years Ended January3, 2010, December elsewhere in this report. Stock options vest according to a pre-determined vest schedule set at grant date. the retail market in which each store operates. As this matter is at a So, lets look at some of Coffee Bean & Tea Leafs major weaknesses: The master franchisees are not permitted to sub-franchise any of their outlets. Dublin, March 09, 2020 (GLOBE NEWSWIRE) -- The "Global Coffee Beans Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering. This is expected to fuel demand for robusta beans over the forecast period. Cost of sales and related occupancy expenses consist of product costs, including manufacturing costs, rent and other occupancy costs. We do not believe there is a reasonable The following discussion on results of operations should be read in conjunction with Item 6. Sales of whole bean and related products increased 11.5% to $168.5 million. Cost of sales and related occupancy expenses. It becomes a pleasant gathering place for all of their friends. As of each annual meeting of the Companys shareholders, beginning in 2002, and continuing through and including the annual meeting of the Companys shareholders in 2020, the number of shares of common stock reserved for liabilities at fair value. Choose reports from a database of more than 10,000 reports. Our specialty coffee contains significant amounts of caffeine and other active compounds, the health effects of some of which are not fully Inc. and its subsidiaries are filed as part of this Form 10-K: Report of Independent Registered Public Accounting Firm, Consolidated Balance Sheets as of January3, 2010 and December28, 2008, Consolidated Statements of Income for the Years Ended January3, 2010,December More on this chain: Coffee Bean & Tea Leaf. Impairment of Long-Lived AssetsWhen facts and We earned $112,000 in interest income in 2009, compared to $726,000 in 2008, due to lower interest rates and lower average balances. indication that the carrying values of such assets may not be recoverable, the Company recognizes an impairment loss by a charge against current operations for an amount equal to the difference between the carrying value and the assets fair CBI websites generally use certain cookies to enable better interactions with our sites and services. Any action under Proposition 65 would likely seek statutory penalties and costs of enforcement, as well as a requirement to provide warnings and other notices to customers. Revenue RecognitionNet revenue is recognized at the point of sale at our potassium chlorate and a drop of hydrochloric acid, evaporating to dryness and exposing the residue to ammonia vapour. delivery, and office and restaurant accounts throughout the United States. In addition, consumers may purchase prepared coffee beverages at countless locations such as convenience stores, bakeries and restaurants. site you are consenting to these choices. coffee roasting operations and our retail stores are subject to various governmental laws, regulations, and licenses relating to customs, health and safety, building and land use, and environmental protection. be determined with certainty, the actual results will inevitably differ from our estimates. have recently deteriorated due to the recession and may remain depressed for the foreseeable future. Coffee Bean & Tea Leaf franchises are located in the most popular, high-traffic areas of each Asian market, where their brands reach expands. Menu Category. InventoriesRaw materials consist primarily of green coffee beans. The fiscal years ended December28, 2008 and December30, 2007 included 52 weeks. this report in greater detail in the section entitled Risk Factors under Part I, Item1A below. Amortization The Beans are freshly scooped from bins under the counter, weighed on For purposes of recognizing incentives and minimum rental expenses, rent is expensed on a purchased for home consumption. The impact of a major earthquake faults in the San Francisco Bay area on our facilities, infrastructure and overall operations is difficult to predict, and an earthquake could seriously disrupt our entire business. Our stores are designed to facilitate the sale of fresh whole bean coffee and to In total, as of January3, 2010, the Company has recognized a liability for penalties and interest of $57,000. Disclosure Date : Jul 24, 2019 Main Document (2) Sep 24, 2019 [Amend-1]Substantial Acquisitions Jul 24, 2019 Substantial Acquisitions Attachments (2) Select Jul 24, 2019 ICT.2018.Audited Financial Statements.pdf Jul 24, 2019 JFC.17C.JFC to Invest US$100M for the Acquisition of the Coffee Bean & Tea Leaf.07242019.pdf characteristics. We are not a party to any other legal proceedings that management believes would have a material adverse effect on the financial understood. "The quality of research they have done for us has been excellent.". The standard describes If customers do not perceive our products and service to be of high quality, then the value of our brand may be diminished and, consequently, our ability to implement our business strategy may be adversely affected. Based on analysis using changes in certain assumptions that could The related lawsuits were dismissed in March 2008. Changes in tax laws and rates could also affect recorded deferred tax assets and liabilities in the future. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(Continued). Our audits also included performing such other procedures as Sales of specialty coffee constituted approximately 84% of our 2009 net revenue and 83% of our 2008 and 2007 net revenue. Opinions expressed by Forbes Contributors are their own. Our The Coffee Bean & Tea Leaf is ready to join the big leagues. We believe our application of accounting policies, and the estimates inherently required therein, are reasonable. respectively, under this program at an average price of $20.38 and $21.91, respectively. Accrued workers compensation. 2008 were $22.5 million, or 7.9% of net revenue, compared to $22.7 million, or 9.1% in 2007. Although we consider our packaging and store design to be essential to our brand identity, we have not applied to Net revenue from the two product lines is as follows (in thousands): Whole bean coffee, tea and related products, 15. Over the past year, The Coffee Bean & Tea Leaf Company has experienced significant growth across its grocery and ecommerce business, which has grown over 50 percent, has tripled online purchases of gift cards, outperforming YoY growth recorded in 2019 and has reentered the NY market with a location in Brooklyn with plans to open a number of . Scrubby Regular is close but not a perfect match on all letters. data). All intercompany transactions have been eliminated in consolidation. California were not paid overtime wages, were not provided meal or rest periods, were not provided accurate wage statements and were not reimbursed for business expenses. Our audits of the financial statements included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the Also effective in 2001, the Company adopted the 2000 Non-Employee Director Plan that pending trademarks, we consider the packaging for our coffee beans (consisting of dark brown coloring with African-style motif and lettering with a white band running around the lower quarter of the bag) and the design of the interior of our stores National Association, the proceeds of which may be used in the general course of business, including to fund working capital, capital expenditures, share repurchases and other needs of the Company. reports on Form 8-K, as well as any amendments or exhibits to those reports, are available free of charge through our website at www.peets.com as soon as reasonably practicable after we file them with, or furnish them to, the Securities and Exchange Click to read about our adventures since 1963! This report is important for The Coffee Bean & Tea Leaf as it helps them to identify their problems and make further improvements to enable them to compete with their competitors, for example, Starbucks. The global market is highly competitive. International Coffee & Tea's Annual Report & Profile shows critical firmographic facts: What is the company's size? The Coffee Bean & Tea Leaf Franchise Information Coffee Franchises Download Full FDD Year Business Began:1963 Franchising Since:2002 Headquarters:Los Angeles, California Estimated Number of Units:1,035 Franchise Description:The franchisor is Super Magnificent Coffee Company Ireland Limited. Smucker licenses and distributes the Dunkin Donuts brand in addition to its Folgers and Millstone brands. The liability is determined based on an actuarial assessment of Our revenue may be adversely affected if we fail to implement our business strategy or if we divert resources to a business strategy that ultimately proves unsuccessful. these assets was determined using the income approach and Level 3 inputs, which required management to make estimates about future cash flows. The Coffee Bean and Tea Leaf uses cookies to give you the best experience on our website. is much larger and has more financial resources than we do. Shop, Ralphs, Kroger, Publix and Whole Foods Market. in addition to cost improvements at the store level (-0.2%), partially offset by higher costs associated with expanding the grocery business (0.3%) and expenses incurred in closing four underperforming stores (0.3%). Since its inception in Southern California in 1963, The Coffee Bean & Tea Leaf has been committed to providing loyal customers with carefully handcrafted products. Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90 We own registered trademarks for our name and logo in Argentina, Australia, Brazil, Canada, See notes to consolidated financial statements. effect that such commitments are expected to have on the Companys liquidity and capital requirements in future periods as of January3, 2010: The Company has excluded from the table above uncertain tax liabilities as defined in ASC 740, Unrecognized Tax Benefits, due to year. India has more than 1,400 registered cafs. register these trademarks and trade dress, and thus cannot rely on the legal protections afforded by trademark registration. Gift card breakage income of $580,000, $497,000 and $332,000 in 2009, 2008 and 2007, respectively, is included in operating expenses in the consolidated statements of income. Our success in promoting and enhancing the Peets brand will also depend on our ability to provide customers with high quality products and customer service. No purchase commitment. Adverse publicity resulting from such allegations may materially adversely affect us, regardless of whether such allegations are true or whether we are ultimately held liable. court against the companies named in the letter. Market Share From the data, we can see that CBTL company shares in Singapore since 2006-2010 have been stagnant at 0.4%. Legal fees of $128,000 were incurred in the third quarter of 2009. very early stage, at this time, the Company is not able to predict the probability of the outcome or estimate of loss, if any, related to this matter. control over financial reporting identified in connection with the evaluation required by paragraph (d)of Exchange Act Rules 13a-15(e) or 15d-15(e) that was conducted during the last fiscal quarter that have materially affected, or are YesNox. For this study, Grand View Research has segmented the global coffee beans market report based on product, application, and region: Product Outlook (Revenue, USD Billion, 2015 - 2025), Application Outlook (Revenue, USD Billion, 2015 - 2025), Regional Outlook (Revenue, USD Billion, 2015 - 2025). The Company recorded shipping revenue of $1,948,000, $2,593,000 and $2,718,000 related to home delivery sales in 2009, 2008 and 2007, respectively. On January1, 2007, we adopted the provisions of ASC 740, Income Taxes, which requires that we recognize From 1989 to 2002, she held a breadth of marketing positions with Procter& Gamble in the United States and Western Europe. These accounting policies and estimates are periodically reevaluated, and adjustments are Upon indication that the carrying values of such assets may not be recoverable, the Companys returns for the state of California tax for 2005 through 2008 are open tax years.