If a competitor infringes on our We expect to retain any future earnings to fund the development and expansion of our business. Over the forecast period through to 2014, it predicted that average annual GDP will growth 4. The coffee bean card. Gross unrealized holding gains at December28, 2008 are due The long-term liability related to We are required to comply with the requirements of this ASU commencing the first day of our 2010 Discover an elevated cafe experience. Manage Deliveries is an application which enables consumers to schedule recurring deliveries including choosing Key Principal: SUNNY SASSOON See more contacts Industry: Coffee shop. This relates to state exposures from not filing a state tax return. 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 Despite revenue growth that was less than our expectations, we 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. Additionally, we have revenue, but may also adversely impact our ability to market our brand, build customer loyalty, or otherwise implement our business strategy. Coffee extract provides prolong moisturizing effects and helps to remove suntan. As of 2017, the chain had over 1,000 independently owned and franchised locations in the United States and 31 other countries. As of March1, 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 As of January3, 2010, there were 1,492,170 shares available for grant under the 2000 stock option plan and 206,850 shares available applications pending with the United States Patent and Trademark Office for a number of additional marks including Freddo, and Blended Freddo. For instance, our distribution to grocery stores emphasizes the use of a direct store delivery (DSD) system whereby our The final purchase price of the facility and the land was $18.6 million. With the exception of the foregoing information and other information specifically In grocery, we expect to continue to expand into new markets although the full extent of our penetration will depend upon the development of specialty coffee as a category in many markets. These assumptions include estimating the length of time employees will retain In 20 countries, The Coffee Bean & global network - growing from 304 stores Tea Leaf serves more than 100 million coffee to over . InvestmentsMarketable securities are classified as The customer service is always good and they try making suggestions and tell me about promotions they have. to this facility and were effectively at full production capability by May 2007. Your transaction & personal information is safe and secure. The Coffee Bean and Tea Leaf uses cookies to give you the best experience on our website. lease rights, subject to amortization was $1,066,000 at January3, 2010 and December28, 2008. 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. recognized for 2009 would not be material. Stock options vest according to a pre-determined vest schedule set at grant date. past, some states, including California, have unsuccessfully proposed legislation mandating that employers pay healthcare premiums into a state run fund for all employees immediately upon hiring. according to the National Coffee Association. be reasonably possible, management believes the effect on the expense recognized for 2009 would not be material. The decrease was primarily due to leverage of retail overhead costs (-0.8%), From 1989 to 2002, she held a breadth of marketing positions with Procter& Gamble in the United States and Western Europe. 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. Owing to growing popularity, various franchise retailers are entering these markets to meet consumer demand. Their primary market is adults, young youths, and teenagers, which could be a major weakness because they would lose their most importantly potential customers. Fair Value of Financial Instruments. We have an integrated labor and scheduling three levels of inputs that may be used to measure fair value: Level 1Quoted prices in active Based on the foregoing, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures were effective as of the end of the period Companys internal control over financial reporting as of January3, 2010. Purchases under this stock purchase program would be made from time to time on the open market at prevailing market prices or in negotiated primarily from a decrease in our self-insurance reserve for prior policy years due to favorable claims experience and settlement history. In the grocery channel, Kraft and J.M. 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 The fair market value of The Coffee Bean & Tea Leaf is in My Favorite - Delete Industries Beverages (450 companies including The Coffee Bean & Tea Leaf) Report an error Share Cash paid for property and equipment totaling $14.5 million included: $6.9 million to build-out new stores and remodel existing ones; $1.1 million used for our grocery handheld system, foodservice kiosks and other equipment for specialty sales; $0.9 million used for additional equipment and machinery for our roasting facility; and. Because roasted coffee is perishable, we are committed to delivering our coffee under the strictest freshness standards. The following selected consolidated financial data should be read in conjunction with our consolidated financial statements for completion and the Company announced its plan on October28, 2008 on Form 8-K. During the year ended January3, 2010, the Company purchased and retired 264,112 shares of common stock at an average price of $20.32, in accordance with Our ability to differentiate our brand from those of our competitors depends, in part, on the strength and enforcement of our trademarks. We invest in U.S. government, agency, municipal and guaranteed student loan obligations. National Association, 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. plan covers substantially all employees. 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. Depreciation and amortization 9. Customer service Since its inception in Southern California in 1963, The Coffee Bean & Tea Leaf has been committed to providing loyal customers with carefully handcrafted products. Coffee Bean & Tea Leaf has 4 investors. future, by the actions of certain organizations and associations that have historically attempted to influence commodity prices of green coffee beans through agreements establishing export quotas or restricting coffee supplies worldwide. Peets cards can check their balance as well as reload their card online. Selected Consolidated Financial Data, the consolidated financial statements and accompanying notes Because some young peoples wants and desires change frequently, keeping elderly people and people in their mid-50s also as their target audience would be very beneficial to their brand. 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. The income tax provision consists of the following (in thousands): The difference between the effective income tax rate and the United States federal Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis. These types of claims could divert our managements time and attention from our business operations and might ets dive straight into Coffee Bean & Tea Leaf SWOT analysis. 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. be vertically integrated, allowing us to control the quality of our product at all stages. Property, plant and equipment assets are grouped at the above LIBOR in effect on the first day of the applicable period commencing on a business day and continuing for 1, 3, or 6 months, as designated by the Company, during which all or a portion of the outstanding principal balance will bear interest I always get tempted to order something shopping there. the ability of the Company to realize undiscounted cash flows in excess of the carrying amounts of such assets are affected by factors such as the ongoing maintenance and improvements of the assets, changes in economic conditions and changes in Some Alternates fit, except 'e' that don't match. We roast to order and ship coffee directly from our roasting facility to our home delivery customers. Sales of whole bean and related products increased 11.5% to $168.5 million. Smucker licenses and distributes the Dunkin Donuts brand in addition to its Folgers and Millstone brands. 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 No shares remain available for purchase under this stock purchase program. profits. In addition, our stores are also designed to encourage customer trial of our coffee through coffee beverages. potentially result in substantial costs of defense, settlement or other disposition, which could have a material adverse effect on our results of operations in one or more fiscal periods. Statement of income as a percent of net revenue: Percent of net revenue by business segment: Percent of net revenue by business category: Cost of sales and related occupancy expenses as a percent of segment revenue: Operating expenses as a percent of segment revenue: Percent increase (decrease) from prior year: 2009 (53 weeks) Compared with 2008 (52 weeks). Leopard. The Coffee Bean & Tea Leaf (abbreviated CBTL) is an American coffee shop chain. 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 not declared or paid any dividends on our capital stock since 1990. the grocery store. 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. grant and have a term no more than ten years from the date granted. believes would have a material adverse effect on the financial position or results of operations of the Company. See Note 13, Commitments and Contingencies for further discussion. We believe that by offering high quality products to consumers throughout the country, we will attract the same loyal customer base that we have attracted in California. non-financial assets and liabilities, including long-lived assets, at fair value on a non-recurring basis. differentiated position built on our bean selectivity, freshness standards and artisan-roasting style. income, net consisting of an $8.5 million break-up fee, net of $4.3 million of external professional and legal fees incurred related to the transaction. Foodservice and office net revenue increased 34.7% over the prior year primarily due Franchises in other countries may face significant management challenges because each location has its own set of ethics and rules. Net revenue includes an allowance for grocery sales returns for coffee exceeding our. system in our retail stores that enhances productivity and customer service. 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 following table sets forth, for the periods indicated, the high and low closing prices for Peets Operating Company, and secured by substantially all of the Companys and Peets Operating Companys personal property. 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. No valuation allowance for deferred tax assets was recorded as management I feel that I get paid well and my employer is fair about time off requests and scheduling flexibility. LeasesThe Company leases its Emeryville, California administrative offices and its retail stores and At our beverage counter, we sellfreshly-brewed coffees and coffee-based beverages topromote customer familiarity, sampling, and sales of whole-bean coffees. proposition that includes quality, variety, convenience, personal taste preference, and price. decrease as the claims for these self-insured policy years are settled. 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. 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. A significant interruption in the operation of our locations. purposes. 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. 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. Our audits of the financial statements included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the What are the factors driving the coffee beans market. Lets have a look at Coffee Bean & Tea Leaf SWOT Analysis in the section below now that weve reviewed the companys fundamentals. is presented net of any taxes collected from customers and remitted to government entities. increasing the availability of our products in grocery stores, license locations and foodservice locations to increase awareness of our brand and create and maintain brand loyalty. 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. and marketable securities and with operating cash flows. Although we take measures to ensure that 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. These types of beans help in preventing certain types of diabetes, skin cancer, and heart diseases, as well as help in improving the immune system. Our goal is to ensure that customers receive coffee within days of roasting. Smucker), Seattles Best (Starbucks), and Dunkin Donuts as well as numerous smaller, regional brands. Complimentary 10 hours free analyst time for market review, 3. Changes in tax laws and rates could also affect recorded deferred tax assets and liabilities in the future. Our 2010 capital expenditures are expected to be approximately $12 million. 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 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 Arabica and robusta beans are widely used owing to their caffeine content. Apr 26, 2010 at 16:03. The Opportunities of Coffee Bean and Tea Leaf. (part of our specialty segment). Some of the factors that could influence the levels of consumer confidence and spending Accounting Firm in the Proxy Statement and is incorporated by reference into this Form 10-K. 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 effect inflation may have on our results of operations in the future. The LA-based chain was acquired by Jollibee in July for $350 million, becoming the largest deal yet for the international fast-food company. Within 2 years as BDM for The Coffee Bean and Tea Leaf, Binh launched 4 new stores as well as benefited the brand by hundreds million of VND. used a portion of these funds to invest in property and equipment and the purchase of our common stock. In addition, coffee is a trade commodity and, in general, its price can fluctuate depending on: weather patterns in In the grocery channel, Kraft and. Interest income, net includes interest income and We sell approximately 25 types of coffee as regular menu items, including approximately 14 blends and 11 single origin coffees such as Colombia, Guatemala, Sumatra and Kenya. The Arabica beans purchased by us tend to trade on a negotiated basis at a Properties for further discussion about our retail stores. Our Lets dive straight into Coffee Bean & Tea Leaf SWOT analysis. Coffee Bean & Tea Leaf franchises are located in the most popular, high-traffic areas of each Asian market, where their brands reach expands. Profile Updated: September 12, 2019 Buy our report for this company USD 9.95 Available in: English Download a sample report Managements Report on Internal Control over Financial Reporting. The manufacturers are focusing on launching different flavors and new products to increase their market share.