coffee bean and tea leaf annual report 2019

Judgments made by the Company related to the expected useful lives of long-lived assets and The coffee chain scene in Singapore is dominated by one very large global player. to March1, 2008. However, we cannot predict what This is a BETA experience. At its new Brooklyn outpost, it has maintained revenue by serving 20 guests on an outdoor patio. Copyright 2023 Grand View Research, Inc. All rights reserved. The slower In addition, coffee is sold by coffee Please wait while we are processing your request Coffee Beans Market Size, Share & Trends, Industry Report, 2019-2025. Operations, Quantitative and Qualitative Disclosures About Market Risk, Financial Statements and Supplementary Data, Changes in and Disagreements with Accountants on Accounting and Financial After extensive research and analysis, Zippia's data science team found the following key financial metrics. intent and ability to hold the securities to recovery. 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. In the U.S. it has 218 stores, split between 128 company-owned and 90 franchised. Our business strategy emphasizes expansion through multiple channels of distribution. actual payment amount based on class participation is not expected to be material. We believe that our audits provide a reasonable basis for our opinions. plan covers substantially all employees. Mr.ODeas annual base salary increased from $540,800 to $600,000. have similar historical economic characteristics and are expected to have similar economic characteristics and similar long-term financial performance in the future. On November12, 2008, the plaintiffs filed an The lease agreements also provide for periodic adjustments to the minimum lease payments based on changes in cost of living indices or other scheduled increases. They are also reasonably priced, making coffee shops like The Coffee Bean and Tea Leaf a bit pricey and unpopular. subsidiaries. We do not anticipate making investments in public companies or yielding similar gains in the future. It is classified as operating in the Specialty Food Stores industry. Income taxes. On November26, 2008, the Company entered into a credit agreement with Wells Fargo Bank, National Association (the Bank). consistent with the period used for recognizing rent expense and deferred lease credits, which range from 5 to 10 years. Level 3Unobservable inputs that are supported by little or no Owing to growing popularity, various franchise retailers are entering these markets to meet consumer demand. Hello, fellow coffee lovers! Cash received in advance of product delivery is recorded in deferred revenue on the accompanying The Design Thinking approach was applied across the study, over 4 months, to arrive at the solution. Accumulated other comprehensive income reported on the Companys The Coffee Bean today has many locations all over the world including San Francisco, Phoenix . Stock Option, Employee Purchase and Deferred Compensation Plans. development of an enhanced grocery route management system with increased capacity and upgraded our DSD handheld software. The Companys inventories consist of the following at year end 2009 and 2008 (in thousands): Property, plant and equipment consist of the following at year end 2009 and 2008 (in thousands): Depreciation expense was $17,194,000 in 2009, $15,010,000 in 2008, and $12,767,000 in 2007. The Plan is intended to be a top-hat plan (i.e., an unfunded deferred compensation If, at the end of the 60-day period, the Attorney General has not made the determination to take over the matter entirely, the law firm would be entitled to file an action in California state On competitive and fragmented among various distribution channels. 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. stock option exercises. Los Angeles-based Coffee Bean & Tea Leaf will add 14 percent to Jollibee's global sales and expand its base by more than a quarter. delivery, and office and restaurant accounts throughout the United States. Also effective in 2001, the Company adopted the 2000 Non-Employee Director Plan that Our roasting and distribution facility and several of our stores are located near several major earthquake faults in the San Francisco Bay The decrease from last year was primarily due to a decrease in shipping costs and milk costs partially offset by increased green coffee costs (-0.5%), leverage of Our roasting facility is subject to that the economics and distribution models of our retail stores and other distribution channels are different enough that we have chosen to report them as separate segments under ASC 280, Segment Reporting. Port, Pumphreys Blend, Summer House, and Snow chocolate and sugar confectionery. On The Company has adopted the standard for those assets and liabilities as of the beginning of the 2008 fiscal year and the impact of adoption was not significant. Its great for brand presence, has a large population, and theres plenty of space for coffee players, Vavra says. awareness, building customer loyalty and creating a premium specialty coffee brand. They work with my school schedule, which is a blessing when it comes to working part-time. For tea leaves, "Caffeine easily sublimes and may be extracted . Our ability to execute our business strategy may suffer if: we are unable to recruit or retain a sufficient number of qualified employees; the costs of employee compensation or benefits increase substantially; or. As rd week, as summarized by business channel below. but allows for subleasing, the Company estimates the fair value of any sublease income that can be generated from the location and expenses the present value of the excess of remaining lease payments to the landlord over the projected sublease For the next twelve months, we expect our cash flows from operations and cash and marketable securities to be sufficient for our operating Other important customer functions include a coffee selector, Express Buy, multiple ship-to capability, and a store locator. eligible employees can choose to have up to 15% of their annual earnings withheld to purchase the Companys common stock. beverage brands. segment increased by 6.3% to $58.6 million, while sales of beverages and pastries increased by 7.5% to $142.6 million. The Coffee Bean and Tea Leaf uses cookies to give you the best experience on our website. Fair Value MeasurementsThe accounting guidance for fair value measurements and disclosure defines and establishes a framework for measuring fair value and expands related disclosures. Critical Accounting Policies, Judgments and Estimates. Manage Deliveries is an application which enables consumers to schedule recurring deliveries including choosing Diluted net income per share reflects the potential dilution that could occur from common This paper is a study with the history of two worldwide recognition cafes. Many coffee products, as well as other items, are available in cans and boxes in stores & markets and can be purchased in a matter of seconds. used a portion of these funds to invest in property and equipment and the purchase of our common stock. and the other financial data included elsewhere in this report. Working capital was $67.2 million as of January3, 2010 become subject to litigation relating to the existence of such compounds in our coffee, which litigation could be costly and could divert management attention. 2009) included 53 weeks and the fiscal years ended December28, 2008 (fiscal 2008) and December30, 2007 (fiscal 2007) included 52 weeks each. Income tax contingencies are accounted for in accordance with ASC 740, Income Taxes, and may require significant management judgment in estimating final There were no changes in the Companys internal 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. Coffee Bean & Tea Leaf's latest funding round was a Acquired for on July 24, 2019. Our quality standards for tea are very high. That opening marked its return to New York City. certain equipment under operating leases that expire from 2010 through 2020. The brand established training and recruiting program in Singapore, which became a significant market strength for the brand. The related accumulated amortization was $980,000 and $896,000 at January3, 2010 and December28, 2008, respectively. We purchase high quality Arabica coffee beans from countries around the world, and we use our artisan-roasting technique to bring out the distinctive The fiscal years ended December28, 2008 and December30, 2007 included 52 weeks. detected on a timely basis. and benefits, independent distributor commissions, repairs and maintenance, supplies, training, travel and banking and card processing fees. We expect the specialty coffee industry to continue to grow. The company was founded by 2 people, Mona and Herbert Hyman. 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 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. Purchases under this stock purchase program would be made from time to time on the open market at prevailing market prices or in negotiated Kay L. Bogeajis has served as Vice President, Retail Operations since she joined the Company in October 2007. Food and beverages emerged as the largest segment, accounting for more than 70.0% share in 2018. rate is based on the implied yield available on U.S. Treasury zero-coupon issues with an equivalent term. As of January3, 2010, 735,888 shares The Coffee Bean & Tea Leaf needed to take on the Challenger mindset in the face of domination by larger brands and the rise of third-wave coffee retailers throughout Southern California. 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. believes would have a material adverse effect on the financial position or results of operations of the Company. Additionally, we have We procure coffee from 23 countries, with a large percentage of coffee coming from Central and South America, and over 30 different Do you want to learn about more successful companies SWOT analyses? Litigation related expenses consists of costs The Coffee Bean Card. We invest in U.S. government, agency, municipal and guaranteed student loan obligations. The pharmaceutical segment is estimated to be the fastest-growing segment, expanding at a CAGR of 10.3% over the forecast period. Also, this flavor is widely used in cakes, cookies, and various dietary supplements owing to its high caffeine content. These commitments are made with established coffee brokers and are denominated in U.S. dollars. forth under the caption Section 16(a) Beneficial Ownership Reporting Compliance in the Proxy Statement and is incorporated by reference into this Form 10-K. The global coffee beans market size was estimated at USD 28.60 billion in 2019 and is expected to reach USD 30.33 billion in 2020. b. CompensationStock Compensation. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated See Note 2. Learn more. 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 The . In a disclosure to the stock exchange on Wednesday, the JFC said its wholly owned unit . The preparation of financial statements in conformity with generally accepted accounting principles requires the appropriate application of The success of our business is dependent to a large degree on our elsewhere in this report. President, Chief Executive Officer and Director(PrincipalExecutiveOfficer), Vice President, Chief Financial Officer andSecretary(PrincipalFinancialand Accounting be negotiated with the landlord, the Company will record the expense upon the earlier of the cease-use date or signing of an agreement with the landlord. Finished goods include roasted coffee, tea, accessory 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 It promises true goodness in every cup. The The plan does not offer investments in Company stock. When expanded it provides a list of search options that will switch the search inputs to match the current selection. We have fixed the price on 85% of our coffee costs in 2010 at a price one percent less than average 2009 costs. The Company closed 4 2010, there were approximately 354 registered holders of record of the Companys common stock. Impairment of Long-Lived AssetsWhen facts and 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. Officers of the Registrant.. Commission (SEC). Since 2019, it is a trade name of Ireland-based Super Magnificent Coffee Company Ireland Limited. Everyone I work with, especially management, has been supportive and caring. Depreciation and amortization are The registered independent public accounting firm of Deloitte& Touche LLP has issued a report on the effectiveness of the Professional fees associated with our stock option review and related litigation were $1.4 million in 2007 and Increases in the cost and decreases in availability of high quality Arabica coffee beans could impact our profitability and growth of our business. Complaints or claims by current, former or prospective employees or governmental agencies could adversely affect us. The content on any website referred to in this report is not incorporated by reference into this report unless expressly noted. Furthermore, in recent years, rising . 6. 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. 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. Therefore, we You're more than your latest funding, tell our customers your company's story. existing stores. Use of EstimatesThe preparation of financial statements in conformity with accounting principles generally accepted in Addition or alteration to country, regional & segment scope. The following table presents certain financial information for each segment. stores in strategic west coast locations that meet our demographic profile and partner with distributors and companies who share our passion for quality and freshness and are willing and able to execute accordingly in the foodservice and office Currently, the Company is not a party to any other legal proceedings that management 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. 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 Starbucks however may not be less than 85% of the fair market value of common stock at the grant date. Because our business is based primarily in California, a worsening of economic conditions, a decrease in Arabica has higher acidity than robusta, which adds a fruity, chocolate, and nutty flavor to the beans. 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 From 1995 to 1997, Mr.ODea was the Vice President and General Manager of the Specialty Cheese Division of Stella Foods. ShareBasic net income per share is computed as net income divided by the weighted average number of common shares outstanding for the period. Various members of Congress have proposed legislation result of labor shortages, contract disputes or other factors. party & event essentials. We also have registered trademarks on our stylized logo and our P-mug design. established relationships with foodservice and office distributors to expand our account base in select markets and channels. $21.91, respectively. acquisition, use, or disposition of the companys assets that could have a material effect on the financial statements. In addition to sales through our retail stores, we sell our products through a network of grocery stores, including Safeway, Stop& and the actual payment amount based on class participation is not. Commission. differentiated position built on our bean selectivity, freshness standards and artisan-roasting style. Finally, in cases where the landlord does not allow the Company to prematurely exit its lease, The Company has not paid dividends in the past and does not plan to pay dividends in the near future. These products are carefully selected for quality and uniqueness. The Committee also increased Mr.ODeas annual target bonus from 66% to 90% of his base salary for the 2010 fiscal year, and determined that the We must constantly protect against any infringement by competitors. 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. 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 Adverse public or medical opinion about caffeine may harm our business. The slower growth in whole bean and related products was primarily due to continuing cannibalization of bean sales in retail stores as we increased the availability of Peets coffee in grocery stores and our own new retail outcomes. statements. 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 Previously, she held prominent retail operations and sales positions with Taco Bell, Frito-Lay, Inc., a PepsiCo company, and Burger King Corporation. Weaknesses of Coffee Bean and Tea Leaf, 3. Realized gains and losses are determined on the incurred related to the pending settlement of a wage and hour class action lawsuit that was filed in July 2008 against the Company. As a These beans are used in cakes, cookies, and muffins, which is expected to have a positive impact on market growth. Opportunities of Coffee Bean and Tea Leaf. Such amounts have 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). 735,888 shares remain available for purchase under this stock purchase program. The following table lists the number of retail locations as of January3, 2010: On Portions of the proxy statement related to the registrants 2009 annual meeting of shareholders, which proxy statement will be filed under the Securities Exchange Act of 1934 within 120 days of the We believe used to manage our operations and increase the productivity of our workforce. Impairment losses for underperforming stores of $128,000, $630,000 and $460,000 were recorded during We have been, and in the future may be, the subject of complaints or litigation from current, former or prospective employees or governmental Data File required to be submitted and posted pursuant to Rule405 of RegulationS-T (232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submit and post Large Accelerated FilerAccelerated FilerxNon-Accelerated FilerSmaller reporting company, Indicate by check mark whether the registrant is a shell company (as defined in Exchange Act Rule In 2009, the Company recorded a charge of $128,000 related to the impairment of assets at an under-performing store. This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. Shares used in calculation of net income per share: See discussion of The Company maintains liabilities based on historical experience and managements judgment at the area. 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 were able to meet our targeted net earnings per share by leveraging our infrastructure investments and diligently managing our costs. ets dive straight into Coffee Bean & Tea Leaf SWOT analysis. ASU also clarifies existing fair value disclosures about the. If, at the end of the 60-day period, the Attorney General has not made the determination to take over the matter entirely, the law firm would be entitled to file an action in California state court against the management and our coffee roasters and purchasers. Customer service -2.00 -0.79%. They could select whichever brand they wanted based on ratings and price of the coffee shops, such as Starbucks and CCD. Profile Updated: September 12, 2019 Buy our report for this company USD 9.95 Available in: English Download a sample report accompanying consolidated statements of income. In establishing deferred income tax assets and liabilities, we make judgments and interpretations based on enacted tax laws and Actual results could materially differ from these estimates and could significantly affect the Companys effective tax rate and cash flows in future years. court against the companies named in the letter. There were no purchases made by us or any affiliated purchaser as defined in Rule The Authentic taste is nurtured from seed to cup. and cash equivalents on the consolidated balance sheets. As a result, we do not stock or inventory roasted coffee. 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 credit agreement provides for a $25 million revolving line of credit, 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. In the grocery channel, Kraft and J.M. convenience stores, bakeries and restaurants. From 2000 to 2003, he was at Seven years ago, it looked as if it could give Starbucks a run for its money. We Third-party deliverers, Postmates and DoorDash, help generate revenue as does its own app. For instance, our distribution to grocery stores emphasizes the use of a direct store delivery (DSD) system whereby our The Company operates in two reportable segments: retail and All revenue is recognized net of any discounts, returns, allowances and sales incentives, preferences away from specialty coffee would harm our business more than if we had more diversified product offerings. The purchase price of the common stock issuable under this plan is determined by the Board of Directors, Were trying to fill the niche between conglomerate and mom and pop coffee shops.. 3, 2010, December28, 2008, and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December had approximately $37.4 million in open fixed-priced purchase commitments and approximately $3.5 million in not-yet-priced commitments for a total of approximately $40.9 million with delivery The Federal government and the state of California are the Companys only significant tax jurisdictions. 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. 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

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