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. segment increased by 6.3% to $58.6 million, while sales of beverages and pastries increased by 7.5% to $142.6 million. Shares used in calculation of net income per share: See discussion of Lets dive straight into Coffee Bean & Tea Leaf SWOT analysis. $25.4 million in 2008. Analyst Briefing Submitters are 7x more likely to receive a qualified connection. is much larger and has more financial resources than we do. year ends on the Sunday closest to the last day of December. Full name: The Coffee Bean & Tea Leaf (Malaysia) Sdn. Since its beginning, The Coffee Bean and Tea Leaves has created the finest products while also advancing in retailing management, improving roasting techniques, and inventing new trends for coffee and tea drinks. Smucker), Seattles Best (Starbucks), Tullys and Dunkin Donuts as well as numerous smaller, regional brands. Total unused borrowing capacity under the credit agreement was $25.0 million as of January3, 2010. Furthermore, an increase in the number of coffee shops in Canada and the U.S. is expected to fuel demand for coffee beans over the forecast period. Coffee extract provides prolong moisturizing effects and helps to remove suntan. Board of Directors and Shareholders of Peets Coffee& Tea, Inc.: We have audited the accompanying consolidated balance sheets of Peets Coffee& Tea, Inc. and subsidiaries (the 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. 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 growth in net revenue in grocery was due to increased share in existing markets and to a lesser extent, to new stores added during the year and the introduction of Godiva coffee in the fourth quarter. We do not expect our unrecognized tax benefits to change significantly over the next 12 months. Peets Coffee& Tea, Inc., a Washington products, spices, and packaged foods. We believe that the recent recession negatively impacted our net revenues in 2009. 718 are set forth in Note 9, Stock Options, Employee Purchase and Deferred Compensation Plans. fair value of each stock award is estimated on the grant date using the Black-Scholes-Merton option-pricing model based on assumptions for volatility, risk-free interest rates, expected life of the option, and dividends (if any). In addition, each operating segment has similar products, similar production processes, similar methods of distribution and a similar The Companys contribution was $787,000, $589,000 and $490,000 in 2009, 2008 and 2007, respectively. For Fifty years on, they haven't changed their . In addition, our stores are also designed to encourage customer trial of our coffee through coffee beverages. On November12, 2008, the plaintiffs filed an Extensive Marketing Strategy Of IFCI In-Depth Analysis, Extensive Marketing Strategy Of Ashoka Buildcon In-Depth Analysis, Extensive Marketing Strategy Of Mcaffeine In-Depth Analysis, Post Graduation in Digital Marketing (11 months), Online Digital Marketing Course (4 months). The Company has never paid cash dividends on its common stock. Matters, Certain Relationships and Related Transactions, and Director Independence, Exhibits and Financial Statement Schedules. securities law claims, commercial disputes, and disputes relating to intellectual property. Coffee Bean Market | Size, Share, Growth | 2022 - 2027 profits to suffer. Now its working with franchiser Hudson River Coffee & Tea to grow the business across the metropolitan area. Foodservice and office comprised 9.8%, 9.7% and office, restaurant and foodservice accounts and Company-owned and operated stores in six states. Actual results could materially differ from these estimates and could significantly affect the Companys effective tax rate and cash flows in future years. The information systems installed at Peets are [34] Foreign brands in the Philippines [ edit] A Burger King outlet in Baliwag, Bulacan. presentation. Also, these beans are a rich source of natural antioxidants, which act as natural anti-inflammatory agents. Cash received in advance of product delivery is recorded in deferred revenue on the accompanying Gift card breakage income of $580,000, $497,000 and $332,000 in 2009, 2008 and 2007, respectively, is included in operating expenses in the consolidated statements of income. For instance, our distribution to grocery stores emphasizes the use of a direct store delivery (DSD) system whereby our 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. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections. 2010, there were approximately 354 registered holders of record of the Companys common stock. The Company Our revenue may be adversely affected if we fail to implement our business strategy or if we divert resources to a business strategy that ultimately proves unsuccessful. 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. We believe The Coffee Bean & Tea Leaf revenue is $500.0M annually. stores. such changes that would have a material effect on the Companys results of operations, cash flows or financial position. percent of net revenue, cost of sales decreased from 47.5% in 2007 to 46.9% in 2008. operating performance. made when facts and circumstances dictate a change. Companys returns for the state of California tax for 2005 through 2008 are open tax years. However, we cannot predict what covered by this annual report. Approximately $6 million incorporated by reference into this Form 10-K, the Proxy Statement is not being filed as a part hereof. We are GDPR and CCPA compliant! Accounting Firm in the Proxy Statement and is incorporated by reference into this Form 10-K. Currently, the Company is not a party to any other legal proceedings that management Any difference between the maximum and the 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. Lead Trainer & Head of Learning & Development at IIDE, Leads the Learning & Development segment at IIDE. The Coffee Bean and Tea Leaf. The specialty coffee market generates most of its sales from coffeehouses that currently number over 25,000 in the United States, according to the National Coffee Association. Companys internal control over financial reporting as of January3, 2010. The preparation of financial statements in conformity with generally accepted accounting principles requires the appropriate application of On September6, 2006, the Companys Board of Directors authorized the Company to purchase up to one million shares of Peets common stock, with no expiration, and the Company announced its The increase from the same 52 weeks was 7.3% as the extra The Company measures certain 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. Dublin, March 09, 2020 (GLOBE NEWSWIRE) -- The "Global Coffee Beans Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering. small single-unit mom and pop coffee houses and regional or local chains such as Coffee Bean& Tea Leaf, Tullys and Seattles Best. Selected Consolidated Financial Data, the consolidated financial statements and accompanying notes requirement to maintain the Companys financial condition in accordance with certain ratios and thresholds, and events of default that permit the Bank to accelerate the Companys outstanding obligations, including nonpayment of principal, awards, giving consideration to the contractual terms, vesting schedules and expectations of future employee behavior. (52 weeks). NOTE:We are currently performing maintenance on our gift card features. These are environmental factors that can obstruct a companys growth. 1/18/2021. control over financial reporting identified in connection with the evaluation required by paragraph (d)of Exchange Act Rules 13a-15(e) or 15d-15(e) that was conducted during the last fiscal quarter that have materially affected, or are 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 Company has adopted the Peets Coffee& Tea, Inc. Code of Business Conduct and Ethics that applies to all officers, directors and employees. Properties for further discussion about our retail stores. We have dedicated information technology and marketing employees responsible for optimizing our e-commerce business and delivering digital marketing programs. Future minimum lease payments required under non-cancelable operating leases subsequent to January3, 2010 are as follows (amounts in thousands): Rent expense was $15,957,000, $14,513,000 and Recent years have seen escalation in the number of legislative reforms and judicial rulings affecting this business. The Coffee Bean & Tea Leaf - Malaysia - Home - Facebook In his 1 year as GM for HT Group Vietnam's Thai Cuisine Line, he expanded its coverage by 20% as well as earned 95% of revenue target in 2019. If customer demand for specialty coffee decreases, our sales would decrease accordingly. Smucker licenses and distributes the Dunkin Donuts brand in addition to its Folgers and Millstone brands. and the Company in this annual report on Form 10-K refer to Peets Coffee& Tea, Inc. Our fiscal year is based on a 52 or 53 week year. HOMEGROWN food giant Jollibee Foods Corp. (JFC) is embarking on its largest acquisition to-date with a $350-million deal to acquire California-based firm The Coffee Bean & Tea Leaf (CBTL). levels. 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. We have an integrated labor and scheduling The following table summarizes the Companys contractual obligations and the timing and Standard& Poors Smallcap 600 Consumer Goods Sector, Packaged Foods& Meats Industry. in high quality coffee and related products. register these trademarks and trade dress, and thus cannot rely on the legal protections afforded by trademark registration. tea. Repairs and maintenance costs are expensed as incurred. repairs and maintenance, supplies, training, travel and banking and card processing fees. Revenue from repairs and maintenance, supplies, training, travel and banking and card processing fees. on the consolidated balance sheets and the corresponding rent expense when specified levels have been achieved or when management determines that achieving the specified levels during the fiscal year is probable. 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. Macchiato. existing stores. The fair market value of Peets cards can check their balance as well as reload their card online. Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis. You can read more about your. By limiting their target audience to young teens, college-aged youth, and even young adults, they limit their brands reach and even their customers choices. shares issued through stock options. 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. Copyright 2023 Grand View Research, Inc. All rights reserved. Cost of sales and related occupancy expenses. These accounting policies and estimates are periodically reevaluated, and adjustments are Now toasting all of your favorite menu items including the Beyond Breakfast Sausage Sandwich, Bacon Egg & Cheese English Muffin and Egg & Chorizo Breakfast Burrito. For tea leaves, "Caffeine easily sublimes and may be extracted . Additional disclosure requirements of ASC Officer), INDEX TO CONSOLIDATED FINANCIAL STATEMENTS, Consolidated Statements of Income for the Years Ended January3, 2010, December Over the past year, The Coffee Bean & Tea Leaf Company has experienced significant growth across its grocery and ecommerce business, which has grown over 50 percent, has tripled online purchases of gift cards, outperforming YoY growth recorded in 2019 and has reentered the NY market with a location in Brooklyn with plans to open a number of . Working capital was $67.2 million as of January3, 2010 Therefore, a disruption in service in our roasting facility would impact our sales in our retail and specialty channels almost immediately. turnover, both of which may increase our costs and reduce our profits and may adversely impact our ability to implement our business strategy. party & event essentials. Hello, fellow coffee lovers! 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. Open daily from 7AM to 12MN. Our business strategy emphasizes expansion through multiple channels of distribution. There is no balance for closed store reserves as of December28, 2008. plan covers substantially all employees. $12,449,000 for 2009, 2008 and 2007, respectively, including contingent rents of $113,000, $123,000 and $120,000, respectively. The former Coffee Bean & Tea Leaf CEO takes helm as chain plans expansion Lisa Jennings | May 28, 2020 Industry veteran John Fuller has been named CEO and president of Boston-based. See Note 13, Commitments and Contingencies for further discussion. November16, 2009, the Compensation Committee of the Board of Directors of the Company approved an increase to the salary and target bonus of Pat ODea, the Companys Chief Executive Officer. 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. The Company closed 4 We never share your personal data. at this time, we are not able to predict the probability of the outcome or estimate of loss, if any, related to this matter. adversely affect our business. Mountain. If our defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market Alternatively, you can call (855) 409-7410 and follow the prompt cost of green coffee beans. Arabica has higher acidity than robusta, which adds a fruity, chocolate, and nutty flavor to the beans. Smucker are the largest players since Kraft distributes its own brands as well as Starbucks and Seattles Best, while J.M. area. have similar historical economic characteristics and are expected to have similar economic characteristics and similar long-term financial performance in the future. 1. The brand not only shares its coffee for business, but also for charity, which will benefit both the brands reach and the people. 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 OUR STORY. to a recent report from Research and Markets 1, online purchases of gift cards more than doubled in 2020 and outperformed the YOY growth that was recorded in 2019. Impairment of Long-Lived AssetsWhen facts and If a competitor infringes on our The fair value of the retail net asset is estimated using the discounted cash flows of the assets. Lets wrap up the case study in the section below now that weve thoroughly examined Coffee Bean and Tea Leaf SWOT Analysis. Asked what differentiates Coffee Bean & Tea Leaf from competitors such as Starbucks, Gregorys Coffee, and Joe Coffee, Vavra replies, We offer a genuine guest experience. Peets offers a line of hand selected whole leaf and bagged tea. At January3, 2010, there were no short-term marketable securities. or that the degree of compliance with the policies or procedures may deteriorate. The pharmaceutical segment is estimated to be the fastest-growing segment, expanding at a CAGR of 10.3% over the forecast period. Presently, most companies in the industry are faced with low consumption of their products and supply chain challenges. In 1987, history was created when a barista invented the Ice Blended drink at its Westwood, California store. See Item 2. On recover the expenses incurred in connection with these efforts and we may be unable to increase our future revenue or implement our business strategy. 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 Sales of whole bean and related products increased 12.7% to $151.1 million. During the pandemic, the business flow changed. Coffee Bean & Tea Leaf Acquired by Philippine Restaurant Group Jollibee characteristics. 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. attorneys fees, and prejudgment interest. net in the fourth quarter of 2009 consists of an $8.5 million break-up fee received for the termination of a definitive agreement for Peets to acquire Diedrich, net of $4.2 million of professional and legal fees incurred related to the These commitments are made with established coffee brokers and are denominated in U.S. dollars. Net revenue for 2008 increased 14.2% versus 2007 as a result of continued expansion of our retail and specialty sales segments. shares, Total liabilities and shareholders equity. coffee bean and tea leaf annual report 2019 On October8, 2008, the Company filed an answer denying the allegations set forth in the complaint and asserting a number of affirmative defenses thereto. 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. These products are carefully selected for quality and uniqueness. 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 We expect that our California operations will continue to generate a substantial portion of our revenue. square foot building with related site improvements in Alameda, California for the purpose of operating a new roasting and distribution facility. b. . If costs increase and we are unable to pass along increased coffee costs, our Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated In addition, we have distributors where jason beghe political views; national wild turkey federation stamp collection; publix fruit cake price; The cosmetics segment is expected to witness growth in the coming years due to the increasing use of coffee beans in different personal care products such as face wash, scrubs, and lipsticks. The Company is subject to periodic audits by the Internal Revenue Service and other state and local taxing authorities. CBTL: One Touch, One Perfect Cup, One Good Day. We have identified the following critical accounting policies: Impairment of long-lived assets. The demand for frozen food products, fruits & vegetables, eggs, flour, and whole grains, among others, witnessed a considerable increase during the early stages of the crisis. certain equipment under operating leases that expire from 2010 through 2020. February8, 2010, the Company received a letter from a law firm alleging that we and several other well known companies violate the California Safe Drinking Water and Toxic Enforcement Act of 1986, commonly known as Proposition 65, by failing The average time that single people spend in an outlet (normally using their computers or studying) is 2 hrs. As of January3, 2010 and December28, 2008, the Company had $1,015,000 and $1,542,000, respectively, Accounts payable and other accrued liabilities, Common stock, no par value; authorized 50,000,000 shares; issued and outstanding: 13,104,000 and 13,174,000 primarily relate to purchases of property and equipment, and sales and maturities of marketable securities. Robusta contains 2.7% caffeine, which is almost double of 1.5% of arabica. 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. Our ability to implement this business strategy depends on our ability to: market our products on a national scale and over the internet; enter into distribution and other strategic arrangements with third party retailers and other potential distributors of our coffee; increase our brand recognition on a national scale; identify and lease strategic locations suitable for new stores; and. ASU also clarifies existing fair value disclosures about the. In addition to sales through our retail stores, we sell our products through a network of grocery stores, including Safeway, Stop& We use business intelligence software to better support and analyze our business in all channels. Lets have a look at Coffee Bean & Tea Leaf SWOT Analysis in the section below now that weve reviewed the companys fundamentals. borrowing capacity under the credit agreement was $25.0 million as of January3, 2010. Such amounts have So, lets take a look at the opportunities Coffee Bean & Tea Leaf has to produce outstanding results.