As a result, we do not stock or inventory roasted coffee. We operate our business through two reportable segments: retail and specialty sales. Because we do not hold any patents for our roasting methods, it may be difficult for us to prevent competitors from copying our roasting methods. affecting consumer spending behavior. Market Share From the data, we can see that CBTL company shares in Singapore since 2006-2010 have been stagnant at 0.4%. By continued use, you agree to our privacy policy and accept our use of such cookies. From 1995 to 1997, Mr.ODea was the Vice President and General Manager of the Specialty Cheese Division of Stella Foods. The coffee bean card. Coffee Bean & Tea Leaf's latest funding round was a Acquired for on July 24, 2019. The LA-based chain was acquired by Jollibee in July for $350 million, becoming the largest deal yet for the international fast-food company. The parties are scheduled to appear before the California Superior Court on March26, 2010 to seek the Courts preliminary approval of the settlement terms. We expect that our California operations will continue to generate a substantial portion of our revenue. We are active in seeking, roasting and selling unique special lot and one-time coffees. We may from time to time become involved in certain legal proceedings in the ordinary course of business. whole bean coffee inconsistent with our standards, store our whole bean coffee for long periods of time or resell our whole bean coffee without our consent, which in each case, potentially affects the quality of the coffee prepared from our From January 2003 to October 2007, Ms.Bogeajis served as Vice President, Western Revenue from specialty sales, consisting of whole bean coffee sales through home delivery, grocery, foodservice and office accounts, is recognized when the product is received by the customer. The Coffee Bean & Tea Leaf | 2018 - Restaurant Business Overview. Our California retail stores generated approximately 60% of our 2009, 2008 and 2007 net revenue and a substantial portion of the revenue from The Companys obligations under the line of credit are guaranteed by the Companys wholly-owned subsidiary, Awaken your everyday with The Coffee Bean & Tea Leaf. stores. From 1997 to 2001, he was Chief Executive Officer of Archway/Mothers Cookies and Mothers Cake and Cookie Company. We believe that we are in compliance in all material respects with all such laws and regulations and that we have obtained all material licenses that are required for the operation of our business. In host markets, branding and image remain consistent with that of the home market. No shares remain available for purchase under this stock purchase program. Upon days. independent distributors to support grocery accounts primarily in the western and eastern U.S. and other selected markets. It is the Companys policy to recognize interest and penalties in the tax provision. Transaction income, net consists of an $8.5 million break-up fee received for the termination of a definitive agreement for Peets to acquire Diedrich, net of $4.3 million of external professional for grant under the 2000 Non-Employee Director stock option plan. From May 2002 to October 2005, Ms.Lansing served as Vice President of Marketing, Flagship Brands for The Hershey Company, a global leader in The success of our business is dependent to a large degree on our Now its working with franchiser Hudson River Coffee & Tea to grow the business across the metropolitan area. In the grocery channel, Kraft and J.M. Your email address will not be published. Menu | The Coffee Bean & Tea Leaf Net cash used in financing activities was $0.9 million in 2009, primarily from the purchase of our common stock, offset by proceeds from Historically, we have found our application of accounting policies to be appropriate, and actual results have not differed materially from those determined using necessary estimates. Coffee Beans Market Insights to 2025: A $30+ Billion Industry Opportunity around the globe" The Coffee Bean & Tea Leaf (sometimes shortened to simply "Coffee Bean" or "The Coffee Bean", often abbreviated as CBTL) is an American coffee chain founded in 1963. The following documents are filed as part of this Form 10-K. (a)(1) Index to to March1, 2008. View all funding This profile has not been claimed. Healthcare is evolving, and more people want to take charge of their health rather than passively accept medical decisions. Each store has a beverage bar that is dedicated to the sale of prepared beverages and Company) as of January3, 2010 and December28, 2008 , and the related consolidated statements of income, shareholders equity, and cash flows for each of the three fiscal years in the period ended January3, 2010. These commitments are made with established coffee brokers and are denominated in U.S. dollars. We May 13, 2021, 07:01 ET. Solved TASK 2: Report Read the case study on "The Coffee | Chegg.com Peets offers a line of hand selected whole leaf and bagged tea. You should read the following discussion and analysis in conjunction with our consolidated financial statements and related notes included Click to read about our adventures since 1963! Net revenue for 2009 increased 9.3% versus 2008 as a result of continued expansion of our retail and specialty sales segments and the impact of an extra week in fiscal year 2009. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement and whether effective internal Stock options vest according to a pre-determined vest schedule set at grant date. regulatory environment. The Coffee Bean & Tea Leaf peak revenue was $500.0M in 2021. The Company also files in numerous state In 2009, we opened 8 new stores and we ShareBasic net income per share is computed as net income divided by the weighted average number of common shares outstanding for the period. Finished goods include roasted coffee, tea, accessory Because some young peoples wants and desires change frequently, keeping elderly people and people in their mid-50s also as their target audience would be very beneficial to their brand. The Companys internal control system was designed to provide reasonable assurance to the Companys management and board of directors regarding the preparation and fair presentation of published financial Operations, Quantitative and Qualitative Disclosures About Market Risk, Financial Statements and Supplementary Data, Changes in and Disagreements with Accountants on Accounting and Financial In cases where terms, including termination fees, are yet to ets dive straight into Coffee Bean & Tea Leaf SWOT analysis. Unrealized gains or losses anticipate, future, intend, plan, believe, estimate, forecast and similar expressions (or the negative of such expressions.) InventoriesRaw materials consist primarily of green coffee beans. 2. 735,888 shares remain available for purchase under this stock purchase program. A significantly on consumer confidence and spending, which have recently deteriorated due to the recession and may remain depressed for the foreseeable future. coffee. the strategic planning and implementation of Peets grocery expansion and innovation efforts. Our responsibility is to express an opinion on these financial statements and an opinion on the Companys internal 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. The cost of intangible assets, primarily (consisting of dark wood fixtures, classic lighting, granite countertops and understated color) to be strong identifiers of our brand. Stock Option, Employee Purchase and Deferred Compensation Plans. . Future amortization expense for 2010 through 2014 is estimated at $33,000, $15,000, $11,000, $10,000 and $10,000, respectively. For more details, please read our privacy policy. Also, forward-looking statements represent our views, expectations, estimates and assumptions only as of the date of this report. In addition, our California retail stores provide us with means for increasing brand Coffee Bean and Tea Leaf has returned to New York City; its new location is in Fort Greene, [+] Brooklyn. of 35,000, 47,500 and 73,750, shares of common stock, respectively. The companies are focusing more on altering their supply chains in order to reinforce their online presence and delivery measures, in an attempt to adapt to the present business environment. Unallocated assets include cash, coffee inventory in the warehouse, corporate headquarter assets and intangible and other assets. 2. Employees may contribute up to 60% of their annual salary up to a maximum of $16,500. Sales of whole bean coffee and related products in the retail segment increased by This will be followed by a business canvas model, a detailed study of nine essential elements that become subject to litigation relating to the existence of such compounds in our coffee, which litigation could be costly and could divert management attention. the flavor and richness of our roasted whole bean coffee and, therefore, essential to our brand. The Company Operating expenses consist of both retail store and specialty operating costs, such as employee labor and benefits, proposition that includes quality, variety, convenience, personal taste preference, and price. There were no purchases made by us or any affiliated purchaser as defined in Rule We depend on the expertise of key personnel. At December28, Management is not aware of any A summary of the allowance for doubtful accounts is as follows (in thousands): The Company records 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 his substitute or substitutes, may lawfully do or cause to be done by virtue hereof. and legal costs. The Company believes that disaggregating its operating segments would not provide material additional information. Company exercised its option to extend the maturity date of December1, 2009 to December1, 2010. on Fair Value Measurements and Disclosures to add new requirements for disclosures about transfers into and out of Levels 1 and 2 and separate disclosures about purchases, sales, issuances, and settlements relating to Level 3 measurements. Kitchen by The Coffee Bean & Tea Leaf (@cbtlph) is now open in Okada Manila! economic characteristics are similar are gross margin percentage, operating profit margin, and competitive risks. Effective January1, 2010, mortgages or auction rate securities. $16,000 in 2008. It also includes plant manufacturing (including depreciation), freight and distribution costs. The following table summarizes the activity related to unrecognized tax benefits (in thousands): The amount of unrecognized tax benefits that would SEC.gov | HOME Over the forecast period through to 2014, it predicted that average annual GDP will growth 4. Bakery Cafe. Accrued Workers Compensation and BenefitsThe Company records an estimated liability for the self-insured portion of workers compensation claims. Choose reports from a database of more than 10,000 reports. It is sometimes shortened to simply Coffee Bean or The Coffee Bean. Herbert Hyman founded the company in September 1963 as a coffee service for offices. is much larger and has more financial resources than we do. The Company closed 4 Other important customer functions include a coffee selector, Express Buy, multiple ship-to capability, and a store locator. Gains and losses are due to fluctuations in interest rates and are considered temporary impairments as management has the Our website features an Express. Information concerning executive and director compensation required by Item11 is set forth under the caption Executive Compensation in the Proxy Statement and is incorporated by reference into this Form 10-K. Information concerning security ownership of certain beneficial owners and management and equity compensation plans required by Item12 The majority of our business is in California, which has experienced an unpredictable workers compensation environment. Use of EstimatesThe preparation of financial statements in conformity with accounting principles generally accepted in Growing demand for coffee vending machines at railway stations, airports, offices, and other places and increasing demand from the working population are anticipated to make a reasonable contribution to the market revenue. b. The long-term liability related to Depreciation and amortization are Companys stock. The complaint alleges that store managers based in or that the degree of compliance with the policies or procedures may deteriorate. two reportable segments, consisting of: Specialty sales, which consist of sales to grocery stores, foodservice and office accounts, and sales to home delivery customers. The following selected consolidated financial data should be read in conjunction with our consolidated financial statements We use the Black-Scholes-Merton option-pricing model, which requires assumptions requiring a high degree of judgment. We are indifferent as to where consumers purchase our coffees and teas, and believe that our specialty and retail segments are synergistic. was filed in July 2008 against the Company. They have a few tables and chairs as well. Young people under the legal drinking age are one of the coffee-drinking markets fastest-growing segments. Depreciation and amortization Management evaluates segment performance primarily based on revenue and segment operating income. Effective December1, 2003, the Company Despite knowing that cultural differences could affect demand for their products and services, The Coffee Bean & Tea Leaf believed that standardization was far more important than adaptation. year ends on the Sunday closest to the last day of December. As this matter is at a Stock-based compensation. Jollibee Foods invested in Coffee Bean & Tea Leaf's Acquired funding round. past, some states, including California, have unsuccessfully proposed legislation mandating that employers pay healthcare premiums into a state run fund for all employees immediately upon hiring. The Coffee Bean & Tea Leaf Franchise Information Our specialty coffee contains significant amounts of caffeine and other active compounds, the health effects of some of which are not fully Total unused borrowing capacity under the credit agreement was $25.0 million as of January3, 2010. Property, plant and equipment assets are grouped at the Previously, she held prominent retail operations and sales positions with Taco Bell, Frito-Lay, Inc., a PepsiCo company, and Burger King Corporation. Our stores are designed to facilitate the sale of fresh whole bean coffee and to encourage customer trial of our coffee through coffee beverages. small single-unit mom and pop coffee houses and regional or local chains such as Coffee Bean& Tea Leaf, Tullys and Seattles Best. The 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 Coffee Bean Market | Size, Share, Growth | 2022 - 2027 qualitative analyses. On September6, 2006, the Companys Board of Directors authorized the Company to purchase up to one million shares of Peets As this matter is at a very early stage, a loyal customer base with strong brand awareness in California. Our insurance may not India has more than 1,400 registered cafs. During the fourth quarter of 2009, the Company recorded a gain on the sale of stock that we acquired in Diedrich within the year. 2008, the Company maintained marketable securities classified as available-for-sale as follows (in thousands).
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