This, in turn, is expected to fuel demand for coffee beans over the forecast period. will be filed with the SEC in accordance with Rule 14a-6(c) promulgated under the Securities Exchange Act of 1934, as amended (the Exchange Act.). March1, 2010, we employed a workforce of 3,664 people, approximately 771 of whom work approximately 40 hours per week and are considered full-time employees. LOS ANGELES, May 13, 2021 /PRNewswire/ -- The Coffee Bean & Tea Leaf company, one of the world's leading roasters and retailers of specialty coffee and tea, announced . available-for-sale securities for net proceeds from marketable securities of $16,183,000 and $7,857,000, respectively, with realized gains of $7,305,000 in 2009 and no realized gains or losses in 2008. We consider roasted coffee a perishable product and we rely on these common carriers to deliver fresh roasted coffee on a daily basis. We currently use fixed-price purchase commitments, but in the past have used and may potentially in the future use coffee futures and Report Name: Coffee Annual Country: Colombia Post: Bogota Report Category: Coffee Prepared By: Lady Gomez Approved By: Benjamin Rau Report Highlights: Colombian coffee production is forecast to recover at 14.1 million bags (1 bag = 60 kilograms) green bean equivalent (GBE) in marketing year 2020/21. register these trademarks and trade dress, and thus cannot rely on the legal protections afforded by trademark registration. Although these actions have been dismissed, Peets could in the future become subject to other claims and litigation, which could involve, for example, Competition in the specialty coffee category is fragmented among various distribution channels with the major distribution channels being coffeehouses (our retail segment) and grocery stores We purchase only Arabica coffee beans, which are considered superior to beans traded in the commodity market. non-financial assets and liabilities, including long-lived assets, at fair value on a non-recurring basis. Open daily from 7AM to 12MN. entire target bonus would be cash-based. During 2009, the Company recorded a gain on the sale of stock of $7.3 million for stock that we acquired and sold of Diedrich Coffee within Originally based on the old Bookman Swashes Medium Italic. We have a high deductible workers compensation insurance program and more claims and higher costs from these claims may adversely affect our The report will begin with an introduction of the company, discussing the origins, values and mission of the coffee retailer. In general, my coworkers are helpful and friendly, and customers are understanding and fun to interact with. The largest and oldest privately-held specialty coffee and tea retailer is The Coffee Bean and Tea Leaf in the United States. As a Our quality standards for tea are very high. this stock purchase program. Demand for specialty coffee is affected by many factors, including: National, regional and local economic conditions; Perceived or actual health benefits or risks. Our business strategy emphasizes expansion through multiple channels of distribution. Our roasting and distribution facility and several of our stores are located near several major earthquake faults in the San Francisco Bay manage growth in administrative overhead and distribution costs likely to result from the planned expansion of our retail and non-retail distribution We have In addition, we have Free business intelligence platform with subscription, 4. We consider our relationship with our employees to be good. their cash flows for each of the three fiscal years in the period ended January3, 2010, in conformity with accounting principles generally accepted in the United States of America. In the grocery channel, Kraft and J.M. The purchase price of stock is 85% of the lower of the beginning of the offering period or end of the offering period Preopening costsCosts incurred in connection with the start-up and promotion of new store openings are expensed as incurred. Question: TASK 2: Report Read the case study on "The Coffee Bean & Tea Leaf. Lets dive straight into Coffee Bean & Tea Leaf SWOT analysis. The increase in beverage and pastry sales was primarily related to sales at the stores we opened in 2007 and 2008 and increased traffic in our continue to cause uncertainty in the market. That opening marked its return to New York City. Such amounts have awareness, building customer loyalty and creating a premium specialty coffee brand. lowest level for which there are identifiable cash flows when assessing impairment. November15, 2007. He has been a guest speaker at prominent colleges in India including IIMs[Read full bio], Your email address will not be published. Jollibee planned to grow the The Coffee Bean in Asia, where there's a race for coffee supremacy. The Coffee Bean & Tea Leaf was founded in Los Angeles, USA, in 1963. 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. At the same time, the Coffee Bean Card should be made flexible where some requirements totally nudge the . Port, Pumphreys Blend, Summer House, and Snow Notes: Available in a 16-ounce valve bag at $11.45. differentiated position built on our bean selectivity, freshness standards and artisan-roasting style. Coffee Bean & Tea Leaf's deal structure is available for 1 funding round, including their Acquired from July 24, 2019. We consider our roasting methods essential to 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. that, among other things. Effective January1, 2010, A significant interruption in the operation of our roasting and distribution facility could potentially disrupt our operations. 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. locations. Patrick J. ODea has served as Chief Executive Officer and President and as a director since May 2002. modified self-insured program with a high deductible with an overall program ceiling to limit exposure. Our growth strategy is based on the sale of whole bean coffee, tea and high-quality beverages in multiple channels of distribution including our own retail stores, grocery, home 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. When expanded it provides a list of search options that will switch the search inputs to match the current selection. The majority of our business is in California, which has experienced an unpredictable workers compensation environment. By Lee Breslouer. 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. Opportunities are areas where a companys efforts can be concentrated to improve results, sales, and, eventually, profit. Net cash used in financing activities was $0.9 million in 2009, primarily from the purchase of our common stock, offset by proceeds from From 1984 to 1995, he was with Procter& Gamble, where he marketed several of the companys snack and PHP. The Coffee Bean & Tea Leaf's Competitors, Revenue, Number of Employees, Funding, Acquisitions & News - Owler Company Profile 2,107 Followers on Owler Overview Competitors Funding News & Insights President & CEO John Fuller CEO Approval Rating 90/100 Weigh In 1963 Los Angeles California Los Angeles Metropolitan Area is expected to be used for the opening of an estimated 4 to 5 new retail stores and for remodeling and improvements to existing stores. interest, fees or other amounts, violation of covenants, inaccuracy of representations and warranties and upon the occurrence of bankruptcy and other adverse material change in the Companys financial condition. the COSO framework, our management concluded that our internal control over financial reporting was effective to the reasonable assurance level as of January3, 2010. more mainstream brands as Maxwell House (Kraft) and Folgers (J.M. 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, respectively, under this program at an average price of $20.38 and Diluted net income per share reflects the potential dilution that could occur from common The plaintiffs seek injunctive relief, monetary damages, penalties, costs and As a result, if the current economic downturn and decrease in consumer spending in California continues or worsens, it may not only lead to a substantial decrease in Our access to high quality Arabica beans depends on our relationships with coffee brokers, exporters and growers, with whom we have built long-term relationships to ensure a steady supply of coffee beans. consumer spending or a change in the competitive conditions in this market may substantially decrease our revenue and may adversely impact our ability to implement our business strategy. Furthermore, in recent years, rising . 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). Certain leases provide for contingent rents, which are determined as a percentage of gross sales in excess of specified levels. to significant volatility and can be affected by multiple factors in the producing countries, including weather, political and economic conditions. coffee at Peets and make a long-term commitment to our artisan craft. Proposal 1Election of Directors in the Companys proxy statement relating to its 2010 Annual Meeting of Shareholders (the Proxy Statement) and is incorporated by reference into this Form 10-K. risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. termination of employment and related benefits taxable pursuant to section 451 of the Internal Revenue Code of 1986, as amended (the Code). purposes. Net revenue includes an allowance for grocery sales returns for coffee exceeding our. January3, 2010 and December28, 2008, the Company operated 192 and 188 retail stores, respectively, in California, Colorado, Illinois, Oregon, Massachusetts and Washington. We also enter into not-yet-priced commitments based on a fixed premium over the New York C market 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. For grants prior to July3, 2006 expected stock price volatility was estimated using only the historical volatility of the the strategic planning and implementation of Peets grocery expansion and innovation efforts. Our audit of internal control over financial reporting included obtaining an understanding of internal control over J.M. In addition, we indirectly compete with more mainstream brands as Maxwell headquarters are located in Emeryville, California. Caffeine Essay. The exercise price of options granted will be equal to the fair market value of the common stock on the date of YesNox, Indicate by check mark whether the registrant is not required to file reports pursuant to Section13 or Section15(d) of the however may not be less than 85% of the fair market value of common stock at the grant date. 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. Franchises in other countries may face significant management challenges because each location has its own set of ethics and rules. Coffee& Tea is a specialty coffee roaster and marketer of fresh roasted whole bean coffee and tea. Despite its popularity, the coffee chain logged $21 million in losses. We The Company was not required to measure any other significant non-financial assets and The Coffee Bean & Tea Leaf peak revenue was $500.0M in 2021. The stock price performance shown in the graph is not necessarily indicative of future price performance. The Company has not paid dividends in the past and does not plan to pay dividends in the near future. is set forth under the caption Security Ownership of Certain Beneficial Owners and Management and Executive CompensationEquity Compensation Plan Information in the Proxy Statement and is incorporated by reference into purchase unique and special coffees. "The quality of research they have done for us has been excellent.". Stock options vest according to a pre-determined vest schedule set at grant date. This paper is a study with the history of two worldwide recognition cafes. General and administrative expenses in 2009 were $24.5 million, or 7.9% of net revenue, compared to $22.5 million, or 7.9% in 2008. Some key players operating in the coffee beans market include Kicking Horse Whole Beans; Death Wish Coffee; The Coffee Beans Co.; La Colombe Torrefaction, INC.; Coffee Beans International, Inc.; illycaff S.p.A.; Luigi Lavazza S.P.A.; La Colombe Torrefaction, INC.; Hawaiian Isles Kona Coffee Company, Ltd.; and Peets Coffee & Tea, Inc. b. P. Christine Lansing joined the Company as Vice President, Chief Older adults also appreciate the low cost of a cup of coffee and a snack, where they can meet with friends, relax, or work. Cost of sales and related occupancy expenses consist of product costs, including manufacturing costs, rent and other occupancy costs. At The Companys contribution was $787,000, $589,000 and $490,000 in 2009, 2008 and 2007, respectively. Property, plant and equipment assets are grouped at the Moreover, they help in reducing the risk of various diseases including Alzheimer's and Gallbladder stones and promoting weight loss. for the fiscal year ended January3, 2010, (Exact Name of Registrant as Specified in Its Charter), (Address of Principal Executive Offices)(Zip Code), (Registrants telephone number, including area code). The Companys 401(k) Quarterly Financial Information (Unaudited, in thousands, except per share Privacy Policy. Which segment accounted for the largest coffee beans market share? of January3, 2010 we operated 192 retail stores in six states through which we sell whole bean coffee, beverages and pastries, tea, and other related items. Long-lived assets to be disposed of are reported at the lower of their carrying amount or fair value, less estimated costs to sell. outcome that could have a material adverse effect on Peets business, financial condition, results of operations and cash flows and its stock price. We believe that this growth will be fueled by continued consumer interest certain equipment under operating leases that expire from 2010 through 2020. respects, effective internal control over financial reporting as of January3, 2010, based on the criteria established in Internal Control Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway An increase in the penetration of cafes in developing countries, coupled with a surge in the use of arabica beans in chocolates, nuts, and caramels, is expected to have a positive impact on the market growth. fiscal year. Peets offers a line of hand selected whole leaf and bagged tea. As of January3, 2010, the Company had total unrealized losses of $0 reported in shareholders equity as a component of accumulated other comprehensive income or loss, net of any related tax effect. The fair value of the retail net asset is estimated using the discounted We are GDPR and CCPA compliant! financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The Los Angeles-based independent coffee retailer said on Tuesday that it plans to open a few franchises in New York City this year. The Coffee Bean & Tea Leaf (abbreviated CBTL) is an American coffee shop chain. 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. management and our coffee roasters and purchasers. Future amortization expense for 2010 through 2014 is estimated at $33,000, $15,000, $11,000, $10,000 and $10,000, respectively. Sign up for a free trial to see Coffee Bean & Tea Leaf's valuations in July 2019 and more. The average time that one spends with a group at Coffee Bean & Tea Leaf is 1.5 hours. We have an integrated labor and scheduling established relationships with foodservice and office distributors to expand our account base in select markets and channels. to be signed on its behalf by the undersigned, thereunto duly authorized. coffee futures options to manage coffee supply and price risk. Adding new menu items or changing the menu to include a special item could attract a large number of new target customers in addition to those who are already there. mortgages or auction rate securities. accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. First, as a reward program that intend to appreciate and recognize loyal customers, Coffee Bean need to scrap off the 'registration fee' that is, the amount customers pay to have or purchase the card (The Coffee Bean and Tea Leaf p.1). 2008 (52 weeks) Compared with 2007 compared to 2007 as a result of increased sales from new stores and the sales they generated in their first 12 months. The Coffee Bean & Tea Leaf continued on its path toward accelerated growth as it launched the most significant and comprehensive advertising campaign in the brand's history. The Coffee Bean & Tea Leaf | 2020 Top 500 Chains 1 McDonald's 2 Starbucks 3 Chick-fil-A 4 Taco Bell 5 Burger King 6 Subway 7 Wendy's 8 Dunkin' 9 Domino's 10 Panera Bread 11 Pizza Hut 12 Chipotle Mexican Grill 13 Sonic Drive-In 14 KFC 15 Olive Garden 16 Applebee's 17 Panda Express 18 Arby's 19 Popeyes Louisiana Kitchen 20 Little Caesars Their primary market is adults, young youths, and teenagers, which could be a major weakness because they would lose their most importantly potential customers. A Besides its namesake coffee and teas, it offers breakfast sandwiches, salads, a variety of baked goods, signature ice-blended drinks, pumpkin spiced chai lattes and kosher fresh goods as well. such changes that would have a material effect on the Companys results of operations, cash flows or financial position. in the implementation of our business strategy or our business strategy may not be successful, either of which will impede our growth and operating results. Key factors that are driving the market growth include growing awareness related to increasing penetration of brands such as CCD and Starbucks in India, China, and other emerging countries. liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to securities law claims, commercial disputes, and disputes relating to intellectual property. Comparison of Starbucks with The Coffee Bean & Tea Leaf. The credit agreement contains customary We invest in U.S. government, agency, municipal and guaranteed student loan obligations. You may opt-out by. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS. Their philosophy of influencing lives from seed to cup is ingrained in everything they do. Now toasting all of your favorite menu items including the Beyond Breakfast Sausage Sandwich, Bacon Egg & Cheese English Muffin and Egg & Chorizo Breakfast Burrito. In the coffeehouse business, Starbucks is our primary competition, but we also compete with small single unit mom and pop coffee houses and We value your investment and offer free customization with every report to fulfil your exact research needs. area. From 2001 to 2003, Fresh Take: A Make-Or-Break Food Trade Show, Inside The Food Labor Movement: An Update From Starbucks Front Lines, Its The Gourmet Toast Driving Expansion At Toastique, Fungi-Based Protein Company Meati Launches Scientific Advisory Board To Support Scale-Up, Nutrition Research, City Saucery Takes Pride In Its Ugly Tomato Sauces, By Helping The Ukrainian Community In Manhattan, Veselka Earns A James Beard Nomination For Outstanding Restaurant, French Wine Region Bourgogne Should No Longer Be Translated To Burgundy. $25.4 million in 2008. The format of our stores replicates that of a specialty grocer. The Company authorized 200,000 shares of common stock available for issuance under the plan, which will be increased as of each annual meeting of the Companys shareholders, beginning 2002 until 2020, by the least of 200,000 Operating expenses consist of both retail store and specialty operating costs, such as employee labor and benefits, Sales of whole bean coffee and related products in the retail 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. The manufacturers are focusing on launching different flavors and new products to increase their market share. 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 document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. Please fill out the form below for a free PDF report sample & In addition, events of default that permit the Bank to accelerate the Companys outstanding obligations, include nonpayment of principal, interest, fees or other amounts, violation of covenants, inaccuracy of representations and productivity, provides a higher level of service to our customers and maintains timely information for performance evaluation. 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. The Coffee Bean and Tea Leaf. adequately cover our losses and expenses in the event of an earthquake. 2008 were $22.5 million, or 7.9% of net revenue, compared to $22.7 million, or 9.1% in 2007. OUR STORY. The company first gave rise in the neighbourhood of Brentwood in Los Angeles, September 1963. On Brands (formerly Tricon Global Restaurants), holding various positions such as Vice President of Planning, Controller, and Chief Financial Officer of Pizza Hut. economic characteristics are similar are gross margin percentage, operating profit margin, and competitive risks. Any difference between the maximum 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. Anti-dilutive shares of 1,166,422, 1,258,510 and 841,277 have been excluded from diluted weighted average shares outstanding in 2009, 2008 and 2007, respectively. Home delivery comprised 5.5%, 6.3% and 7.5% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. recognized for 2009 would not be material. January3, 2010, 1,264,907 shares remain available for future issuance. plan maintained for a select group of management or highly-compensated employees) under sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income Security Act of 1974 (ERISA). As of January3, 2010 and December28, 2008, the Company had $1,015,000 and $1,542,000, respectively, Approximately $2.5 million is expected to be used for equipment and machinery to improve effectiveness and control over financial reporting was maintained in all material respects. was filed in July 2008 against the Company. Operations. The brand not only shares its coffee for business, but also for charity, which will benefit both the brands reach and the people. 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 filed an amended complaint asserting an additional claim for penalties On November26, 2008 the Company filed an answer thereto denying the allegations in the first amended complaint and asserting a number of affirmative defenses thereto.