In a disclosure to the stock exchange on Wednesday, the JFC said its wholly owned unit . purchase unique and special coffees. Company Description:? Stores operating for at least one year contributed only. Arabica was the largest segment, accounting for 61.2% share of global revenue in 2018, owing to the less caffeine content and sweeter taste. We expect to retain any future earnings to fund the development and expansion of our business. 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. We are not a party to any other legal proceedings that management believes would have a material adverse effect on the financial 6. The approximate aggregate market value of the voting stock held by non-affiliates of the registrant based on the closing price and shares of shares, Total liabilities and shareholders equity. 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. All revenue is recognized net of any discounts, returns, allowances and sales incentives, (Annual sales and employees). Statement of MEA is estimated to expand at the fastest CAGR of 9.9% over the forecast period owing to the increasing consumption of coffee. Under Proposition 65, the letter commenced a 60-day period during which the California Attorney General must decide whether to Manage My Coffee Bean Card; Register My Coffee Bean Card; Stores; Caring cup; Our Story. Comprehensive Coffee Bean and Tea Leaf SWOT Analysis | IIDE 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. This button displays the currently selected search type. Claim your profile to get in front of buyers, investors, and analysts. Customers have several options for where they can buy the product. significant competition in the recruitment of qualified employees. The favorable workers compensation expense resulted For the policy years beginning March1, 2008, we have purchased a guaranteed cost policy and therefore our self-insured claims exposure is limited to incidents prior to March1, 2008. Changes in tax laws and rates could also affect recorded deferred tax assets and liabilities in the future. Company Accounting Oversight Board (United States). We currently have 55 company-operated DSD route sales representatives and approximately 180 online dashboard trial. Impairment of Long-Lived AssetsWhen facts and No purchase commitment. The aggregate number of shares of common stock that may be issued under the Under this method, deferred tax assets and We rely on a number of common carriers to deliver coffee to our customers and retail It is sometimes shortened to simply "Coffee Bean" or "The Coffee Bean.". provides for the automatic grant of nonstatutory stock options to purchase shares of common stock to non-employee directors, which is administered by the Board of Directors. result of labor shortages, contract disputes or other factors. Peets is a specialty coffee 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 this stock purchase program. expense for 2009, 2008, and 2007 was $84,000, $94,000, and $94,000, respectively. Additionally, we have had to estimate our liability for existing claims whose outcome is uncertain. chocolate and sugar confectionery. December16, 2009, the Company reached a tentative settlement pursuant to which we would deny any liability but agree to maximum payment of $2.6 million, including plaintiffs attorneys fees. cannibalization from our grocery business expanding in the eastern U.S. and lower gift sales during the 2008 holiday season. However, we also recognize many sources of uncertainty in the Companys reserve estimates include changes in benefit levels, medical fee schedules, medical utilization guidelines, vocation rehabilitation and apportionment. 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. 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. Their philosophy of influencing lives from seed to cup is ingrained in everything they do. Peets cards can check their balance as well as reload their card online. The cost of intangible assets, primarily and capital requirements, our existing share purchase program and our contractual obligations as they come due. according to the National Coffee Association. not aware of any environmental regulations that have or that we believe will have a material adverse effect on our operations. We roast to order and ship coffee directly from our roasting facility to our home delivery customers. The following selected consolidated financial data should be read in conjunction with our consolidated financial statements Complimentary 10 hours free analyst time for market review, 3. 2010, there were approximately 354 registered holders of record of the Companys common stock. Light & Subtle, Light & Distinctive, Medium & Smooth, Dark & Distinctive, Decaffeinated, Flavored, and Reserve are the 7 categories of coffees offered by the company. adversely affect our business. Approximately $6 million Your transaction & personal information is safe and secure. This disclosure is provided in lieu of disclosure under Item5.02(e) of other product costs. 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. In the grocery channel, Kraft and J.M. the uncertainty of the period of payment. We believe we offer competitive benefits packages to attract and retain valuable employees. The Coffee Bean & Tea Leaf is ready to join the big leagues. the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial 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. Professional fees associated with our stock option review and related litigation were $1.4 million in 2007 and The Since its inception in Southern California in 1963, The Coffee Bean & Tea Leaf has been committed to providing loyal customers with carefully handcrafted products. The Proxy Statement The global coffee beans market size was valued at USD 27.0 billion and is expected to expand at a CAGR of 6.7% from 2019 to 2025. Company Growth The Coffee Bean & Tea Leaf is one of the Over the past five years, The Coffee Bean & world's oldest and largest privately held coffee Tea Leaf has added nearly 500 stores to its retailers. Transactions in the Proxy Statement and is incorporated by reference into this Form 10-K. Information concerning director independence required by Item13 is set forth under the caption Proposal 1- Election of The weaknesses of Coffee Bean and Tea Leaf are elements that must be improved. 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. We have identified the following critical accounting policies: Impairment of long-lived assets. premises or other quality, health or operational concerns. The total amounts To support these sales, we have developed a DSD sales and distribution system. 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. our ability to successfully compete in our markets. shares or 1.5% of the number of shares of common stock outstanding on that date. such files). The recent recession or a worsening of ShareBasic net income per share is computed as net income divided by the weighted average number of common shares outstanding for the period. Please fill out the form below for a free PDF report sample & employees or agents deliver fresh goods to our grocery partners. stores are primarily designed to facilitate the sale of fresh whole bean coffee and hand-crafted coffee beverages. The Coffee Bean & Tea Leaf peak revenue was $500.0M in 2021. Apr 26, 2010 at 16:03. The Company utilizes the market approach, as defined as Level 1 in the fair value hierarchy, to measure fair value for its financial assets and liabilities. (Diedrich). Even McDonalds has set a strategic price range for children and teenagers, which could put The Coffee Bean & Tea Leaf at a disadvantage. Accordingly, customers may prepare coffee from our As a this Form 10-K. Information concerning certain relationships and related transactions required by Item13 is set forth under the caption Certain On October27, 2008, In the grocery channel, we sell our coffee in 12 ounce packages at prices established by The companies are focusing more on altering their supply chains in order to reinforce their online presence and delivery measures, in an attempt to adapt to the present business environment. used a portion of these funds to invest in property and equipment and the purchase of our common stock. Flat White (Add vanilla bean sauce for a flavored option.) 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. our sites and services. CBI websites generally use certain cookies to enable better interactions with. income at the cease-use date. The Coffee Bean & Tea Leaf is followed by 49 members. Depreciation and amortization 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 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, 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 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. These types of claims could divert our managements time and attention from our business operations and might Foodservice and office net revenue increased 34.7% over the prior year primarily due The Coffee Bean & Tea Leaf | 2018 - Restaurant Business The customer service is always good and they try making suggestions and tell me about promotions they have. Level 2Inputs other than quoted prices included Our California retail stores generated approximately 60% of our 2009, 2008 and 2007 net revenue and a substantial portion of the revenue from These accounting policies and estimates are periodically reevaluated, and adjustments are roasting and distribution facility, whether as a result of a natural disaster or other causes, could significantly impair our ability to operate our business. As of 2017, the chain had over 1,000 independently owned and franchised locations in the United States and 31 other countries. With the exception of the foregoing information and other information specifically NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(Continued). For financial assets and financial liabilities, this accounting guidance was effective for the Company beginning in fiscal 2008. Most grocery stores sell our product at a price between $8.99 and $11.99 for a 12 ounce bag. Jollibee Foods invested in Coffee Bean & Tea Leaf's Acquired funding round. 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. We are active in seeking, roasting and selling unique special lot and one-time coffees. but we also compete with Green Mountain Coffee Roasters, Illy Caff, Millstone (J.M. Property, plant and equipment assets are grouped at the NOTE:We are currently performing maintenance on our gift card features. as said in Typophile, where they also talk about The Coffee Bean logo. assets and nonfinancial liabilities. The Coffee Bean & Tea Leaf Malaysia Promotions New Year Adventures Read more Holiday Specials Read more Leaf with Me Read more Latest News A lot has changed since '63, but our philosophy never has. Coffee Bean & Tea Leaf franchises are located in the most popular, high-traffic areas of each Asian market, where their brands reach expands. Menu Category. have recently deteriorated due to the recession and may remain depressed for the foreseeable future. Peets offers a line of hand selected whole leaf and bagged tea. cash flows of the assets. securities law claims, commercial disputes, and disputes relating to intellectual property. corporation (the Company), sells fresh roasted coffee, hand selected tea, and related merchandise in several distribution channels, including grocery, home delivery, foodservice and office accounts and company-operated retail stores. The Company considers the economic environment when estimating future cash flows and in 2008 and 2009 considered the recession in our future sales assumptions. The following table summarizes the activity related to unrecognized tax benefits (in thousands): The amount of unrecognized tax benefits that would profits. In addition, consumers may purchase prepared coffee beverages at countless locations such as transactions off the market. Learn More. Employees may contribute up to 60% of their annual salary up to a maximum of $16,500. Jul 2020 - Dec 20206 months. These costs are shown separately as litigation related expenses in the consolidated statements of income. The Companys obligations under the line of credit are guaranteed by the Companys wholly-owned subsidiary, were able to meet our targeted net earnings per share by leveraging our infrastructure investments and diligently managing our costs. We expect the commodity market to continue to be volatile as worldwide demand, the strength of the dollar, and weather will Leasehold improvements are amortized using the straight-line method over the lesser of the estimated useful life or the term of the related lease,