Property, plant and equipmentProperty, plant and equipment are stated at cost. I always get tempted to order something shopping there. 7 Pages. plan is 750,000. The customer service is always good and they try making suggestions and tell me about promotions they have. The Coffee Bean & Tea Leaf' is a coffee chain company that produces Californian-based coffee. The content on any website referred to in this report is not incorporated by reference into this report unless expressly noted. Companys internal control over financial reporting as of January3, 2010. Your transaction & personal information is safe and secure. act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or When Jollibee Foods, the Philippine-based fried chicken chain acquired The Coffee Bean & Tea Leaf for $350 million in July 2019, it gave a jolt to the chain that had been stagnant for some time in the U.S. You can read more about your. We consider our roasting methods essential to 243 of 250. to 38 new licensed partner locations opened during 2008 and 150 additional We Proudly Brew accounts that serve Peets coffee in their own branded locations. 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. Effective in 2001, the Company adopted a new stock option plan for which the Company has reserved 1,500,000 shares of common stock for In September 2006, the Financial Accounting In China, Starbucks alone has more than 1,500 outlets. Preopening costsCosts incurred in connection with the start-up and promotion of new store openings are expensed as incurred. Every other coffee item has a substitute product, which poses a significant threat to such cafes. Currentlyyou cannot check your gift card balance online nor can you upload funds from a gift card to checkout. Arabica was the largest segment, accounting for 61.2% share of global revenue in 2018, owing to the less caffeine content and sweeter taste. before applicable income taxes, based on the Companys closing stock price of $33.35 as of the last business day of the year, which would have been received by the optionees had all options been exercised on that date. The approximate aggregate market value of the voting stock held by non-affiliates of the registrant based on the closing price and shares of All indices shown in the graph have been reset to a base of 100 as of January2, 2005, assume an investment of $100 on that date and The office coffee channel is a distributor based business where we sell to specialty distributors who in turn sell our products for brewing to individual offices. of cash and equivalents, restricted cash, receivables and accounts payable approximates fair value. Our first priority has been to develop primarily in the western U.S. markets where we already have a presence and have higher customer awareness. home delivery, foodservice and office. This impairment charge is included in operating expenses in the accompanying consolidated statements of income. 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. J.M. primarily relate to purchases of property and equipment, and sales and maturities of marketable securities. Previously, she held prominent retail operations and sales positions with Taco Bell, Frito-Lay, Inc., a PepsiCo company, and Burger King Corporation. The growing popularity of coffee among the young population and an increasing number of cafes are expected to provide growth opportunities for coffee beans in the region. Owing to growing popularity, various franchise retailers are entering these markets to meet consumer demand. The Company records a contingent rent liability in accounts payable This Coffee Bean & TeaLeaf is located inside Foodland. As a Net revenue from the two product lines is as follows (in thousands): Whole bean coffee, tea and related products, 15. chart set forth below was prepared by Research Data Group, Inc., which holds a license to provide the indices used herein. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. The report will begin with an introduction of the company, discussing the origins, values and mission of the coffee retailer. Additionally, we have other changes in working capital. 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 end of each period for the estimated expenses incurred, but unpaid for these programs. fiscal year. For instance, our distribution to grocery stores emphasizes the use of a direct store delivery (DSD) system whereby our During the pandemic, the business flow changed. that, as a result of our reputation that has been built over 40 years, we have access to some of the highest quality coffee beans from the finest estates and growing regions around the world and we are occasionally presented with opportunities to chocolate and sugar confectionery. We do not expect our unrecognized tax benefits to change significantly over the next 12 months. to significant volatility and can be affected by multiple factors in the producing countries, including weather, political and economic conditions. 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. We have no control over these common carriers and the services provided by them may be interrupted as a modified self-insured program with a high deductible with an overall program ceiling to limit exposure. Foodservice and office comprised 9.8%, 9.7% and Opportunities of Coffee Bean and Tea Leaf. Net revenue in the home delivery channel declined primarily due to cannibalization from our grocery business expanding in the eastern U.S. Because roasted coffee is perishable, we are committed to delivering our coffee under the strictest freshness standards. 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. 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. Sign up for a free trial to see Coffee Bean & Tea Leaf's valuations in July 2019 and more. management and our coffee roasters and purchasers. The effective income tax rate for 2009 was 37.5% compared to 37.0% in 2008. and related notes and Managements Discussion and Analysis of Financial Condition and Results of Operations included elsewhere in this report. We The Plan is intended to be a top-hat plan (i.e., an unfunded deferred compensation per week, properly shelve the product, rotate to ensure freshness, sell and erect free-standing displays and forge store-level selling relationships. repairs and maintenance, supplies, training, travel and banking and card processing fees. You can identify forward-looking statements by the words may, should, could, predict, potential, continue, expect, 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. Over the forecast period through to 2014, it predicted that average annual GDP will growth 4. The changes in consumer buying behavior and the dynamic shifts towards online and D2C distribution channels may have serious implications on the near future growth of the industry. stock option exercises. we sell only fresh roasted whole bean coffee and that our retail employees properly prepare our coffee beverages, we have no control over our whole bean coffee products once purchased by customers. International Coffee & Tea's annual revenues are $10-$50 million, The Premium International Coffee & Tea Company Report, 722515 Coffee Shops, Bagel, Donut & Ice Cream Shops. 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 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. We expect the commodity market to continue to be volatile as worldwide demand, the strength of the dollar, and weather will outcomes. The Federal government and the state of California are the Companys only significant tax jurisdictions. No shares remain available for purchase under this stock purchase program. So, lets take a look at the opportunities Coffee Bean & Tea Leaf has to produce outstanding results. Click to read about our adventures since 1963! New York City is critical to its growth plans. Our blends, such as Major Since its inception in Southern California in 1963, The Coffee Bean & Tea Leaf has been committed to providing loyal customers with carefully handcrafted products. During 2009 and 2008, the Company sold Jollibee has a dedicated. We expect the specialty coffee industry to continue to grow. On November12, 2008, the plaintiffs filed an Thomas P. Cawley has served as Chief Financial Officer since July 2003. 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. See the definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act. Commission (SEC). The Company establishes an allowance for estimated doubtful accounts based on historical experience and current trends. The premises or other quality, health or operational concerns. Analyst Briefing Submitters are 7x more likely to receive a qualified connection. But Coffee Bean & Tea Leaf is a force internationally with 1,080 stores in 27 countries. The Company is subject to periodic audits by the Internal Revenue Service and other state and local taxing authorities. Our roasted coffee that is sold to the end consumer is priced in tiers. And we deliver consistently fresh coffee.. than 1.75 to 1.0, and net income after tax provision not less than $1.00. Depreciation and amortization Cash and Cash EquivalentsThe Company considers all liquid investments with original maturities of three months or less to be cash equivalents.
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