coffee bean and tea leaf annual report 2019

Consolidated Financial Statements, included elsewhere in this report. straight-line basis, and the Company records the difference between the recognized rental expense and amounts payable under the lease to deferred lease credits and other long-term liabilities, over the lease term, which may or may not coincide with reverse. (52 weeks). statements. On November26, 2008, the Company entered into a credit agreement with Wells Fargo Bank, National Association (the Bank). Which segment accounted for the largest coffee beans market share? the Common Stock outstanding on June28, 2009 (the registrants most recently completed second quarter), as reported by the Nasdaq National Market, was $336,924,667. The table below shows selected consolidated financial data for our last five fiscal years. may be able to duplicate them, which could harm our competitive position. Were missing the commuter peak, Vavra notes. I always get tempted to order something shopping there. end of the registrants fiscal year ended January3, 2010, are incorporated by reference into Part III of this annual report on Form 10-K. Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities, Managements Discussion and Analysis of Financial Condition and Results of 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. Our 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. Impairment losses for underperforming stores of $128,000, $630,000 and $460,000 were recorded during expenses increased in 2009 primarily due to the 31 stores we opened during 2009 and 2008 and the implementation of a new ERP system during the year. At January3, 2010, we had $47.9 million in cash and cash equivalents. We are GDPR and CCPA compliant! However, we also recognize Statement Schedule. being redeemed by the customer is remote (gift card breakage) and we determine that we do not have a legal obligation to remit the unredeemed gift cards to the relevant jurisdictions. Licensing accounts involve the creation of a full Peets beverage store within another location such as an airport, grocery store or college campus. In the specialty sales segment, net revenue increased 19.9% compared to 2007 as summarized by business channel below. In addition, if we are not able to purchase sufficient quantities of high quality Arabica beans due to any of the above factors, we may not be able to fulfill the demand for our Company Accounting Oversight Board (United States). Accumulated other comprehensive income reported on the Companys Litigation related expenses consists of costs It has made a significant contribution to schools and other local institutions. levels. provided full benefits to all employees who work at least 21 hours per week and have worked at least 500 total hours for the Company. Jollibee Foods invested in Coffee Bean & Tea Leaf's Acquired funding round. 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. Income taxes. We believe, based on relationships established with our suppliers, that the risk of non-delivery on such purchase commitments is low. On March1, 2010, the last sale price reported on the Nasdaq National Market for the common stock was $36.84 per share. Our registers have touch screen components and full point-of-sale capability. In addition, coffee is sold by coffee roasters like Peets to foodservice operators, direct to consumers through websites and mail order, offices and other places where coffee is consumed or Patrick J. ODea has served as Chief Executive Officer and President and as a director since May 2002. Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. flavor of our coffees. affecting consumer spending behavior. Our ability to differentiate our brand from those of our competitors depends, in part, on the strength and enforcement of our trademarks. Port, Pumphreys Blend, Summer House, and Snow determine the gift card breakage rate based upon our historical redemption patterns. If a competitor infringes on our Another outpost is slated to open in downtown Brooklyn by the end of the year, supplemented by new outlets on the Upper East Side of Manhattan and Hoboken, N.J. planned for 2021. determined in relation to LIBOR. Arabica and robusta beans are widely used owing to their caffeine content. Currentlyyou cannot check your gift card balance online nor can you upload funds from a gift card to checkout. our other distribution channels is generated in California. December 2009 store closures: As a result of the December 2009 store closures, the Level 3Unobservable inputs that are supported by little or no Did you find this Coffee Bean and Tea Leaf SWOT Analysis useful? Our quality standards for tea are very high. Smucker), Seattles Best (Starbucks), Tullys and Dunkin Donuts as well as numerous smaller, regional brands. Our fiscal year is based on a 52 or 53 week year. Growth was flat compared to the prior year for stores operating for over one year. circumstances indicate that the carrying of long-lived assets may be impaired, an evaluation of recoverability is performed by comparing the carrying values of the assets to projected future cash flows in addition to other quantitative and In 2007, we tested a new inventory management system in our retail stores, which we implemented in all our stores in 2008. Segment income before taxes Various members of Congress have proposed legislation Approximately $2.5 million is expected to be used for equipment and machinery to improve effectiveness and Foodservice and office net revenue increased 34.7% over the prior year primarily due CBI websites generally use certain cookies to enable better interactions with. the ability of coffee-producing countries to agree to export quotas; and general economic conditions that make commodities more or less attractive investment options. 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. The Coffee Bean and Tea Leaf. Privacy Policy. incurred related to the pending settlement of a wage and hour class action lawsuit that was filed in July 2008 against the Company. Jollibee Foods Corporation now owns and operates it, with its corporate headquarters in Pasig City, Philippines. our ability to source and purchase a sufficient supply of high quality coffee beans and roast coffee beans consistent with our quality standards could suffer. The Company establishes an allowance for estimated doubtful accounts based on historical experience and current trends. On growth in whole bean and related products was primarily due to continuing cannibalization of bean sales in retail stores as we increased the availability and sales levels of Peets coffee in grocery stores and our own new retail stores. During 2009 and 2008, the Company sold Operating cash flows were positively impacted in 2009 primarily by increased net income, net of depreciation expense, and increases in accrued liabilities for the litigation reserve and payroll timing, partially offset by feet through April30, 2013. The increase was primarily due to higher costs associated with expanding the NOTE:We are currently performing maintenance on our gift card features. Gap, Inc. serving as Chief Financial Officer, Gap Brand. We expect to retain any future earnings to fund the development and expansion of our business. New York City is critical to its growth plans. In 2009, we completed the development and implementation of a new $7.1 million enterprise resource planning (ERP) system. Weaknesses of Coffee Bean and Tea Leaf, 3. gains or losses from the sale of these instruments. In the grocery channel, we sell our coffee in 12 ounce packages at prices established by Lets wrap up the case study in the section below now that weve thoroughly examined Coffee Bean and Tea Leaf SWOT Analysis. The carrying value We use the Black-Scholes-Merton option-pricing model, which requires assumptions requiring a high degree of judgment. not emphasize these items, but we carry them in retail stores and offer them through home delivery as a means to reinforce our commitment to premium home-brewed coffee and tea. Our retail locations are all company-owned and operated in leased facilities. stock option review and related litigation (0.5%), partially offset by increases in headcount (0.2%) and various professional services. In the retail segment, net revenue increased 7.1% compared to 2008, or 5.2% without the 53rd week, as a result of increased sales from new stores and the sales 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 Commission. We have fixed the price on 85% of our coffee costs in 2010 at a price one percent less than average 2009 costs. In addition, our stores are also designed to encourage customer trial of our coffee through coffee beverages. his substitute or substitutes, may lawfully do or cause to be done by virtue hereof. coffee-producing countries; economic and political conditions affecting coffee-producing countries; foreign currency fluctuations; the ability of coffee-producing countries to agree to export quotas; and general economic conditions that make The fiscal years ended December28, 2008 and December30, 2007 included 52 weeks. the consolidated statements of income (in thousands): The fair value of Although these actions have been dismissed, Peets could in the future become subject to other claims and litigation, which could involve, for example, As this matter is at a Cash received in advance of product delivery is recorded in deferred revenue on the accompanying The largest and oldest privately-held specialty coffee and tea retailer is The Coffee Bean and Tea Leaf in the United States. and legal costs. Jollibee said the total value of the Coffee Bean & Tea Leaf deal will be $350 million, with $100 million invested into a new Singapore-based holding company. 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 grocery, we expect to continue to expand into new markets although the full extent of our penetration will depend upon the development of specialty coffee as a category in many markets. Analyst Briefing Submitters are 7x more likely to receive a qualified connection. The fiscal our sites and services. 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. Although we consider our packaging and store design to be essential to our brand identity, we have not applied to jurisdictions with varying statutes of limitations. assets and nonfinancial liabilities. shares, Total liabilities and shareholders equity. More on this chain: Coffee Bean & Tea Leaf. The following table summarizes stock option information at year end 2009: During 2001, the Company adopted the 2000 Employee Stock Purchase Plan (ESPP), where However, the Board of Directors has the authority to designate a smaller number of shares by which the authorized number of shares of common stock will be increased on Lets dive straight into Coffee Bean & Tea Leaf SWOT analysis. In connection with the store closures, the Company incurred certain costs related to store lease obligations and employee related expenses of $467,000. Each store has a beverage bar that is dedicated to the sale of prepared beverages and We may be the subject of complaints or litigation from customers alleging beverage and food-related illnesses, injuries suffered on the Previous to 1986, Mr.Cawley As of January 3, 2010 we operated 192 retail stores in six states through which we sell whole bean coffee, beverages and pastries, tea, and other related items. Foodservice and office comprised 9.8%, 9.7% and We purchase only Arabica coffee beans, which are considered superior to beans traded in the commodity market. Companys fiscal year end is the Sunday closest to December31. 250.00. The specialty coffee market generates most of its sales from coffeehouses that currently number over 25,000 in the United States, The purchase price of the common stock issuable under this plan is determined by the Board of Directors, Certain leases contain renewal options for an additional five to fifteen years, and also provide for contingent rents to be paid equal to a stipulated percentage of sales. Operating expensesOperating expenses consist of both retail store and specialty operating costs, such as employee labor We believe these business categories are useful in understanding our results of operations for the periods presented because we operate our stores and record revenue through these two categories. 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. Free upgrade to enterprise license (allows to share across all company locations), 5. There is always a risk that one of these competitors could undertake a strategy that involves very high spending or discounting that would negatively impact our operating results. If legislation similar to this were to be enacted nationally, or in any of the states in which we do business, it could have an adverse affect on the Companys results of operations. ets dive straight into Coffee Bean & Tea Leaf SWOT analysis. effective replacements, our operations may suffer. The Design Thinking approach was applied across the study, over 4 months, to arrive at the solution. site you are consenting to these choices. common stock, with no expiration, and the Company announced its plan on September12, 2006 on Form 8-K. During the years ended January3, 2010 and December28, 2008 the Company purchased and retired 58,759 and 941,241 shares, Officer), INDEX TO CONSOLIDATED FINANCIAL STATEMENTS, Consolidated Statements of Income for the Years Ended January3, 2010, December Peets 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

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coffee bean and tea leaf annual report 2019