Overview. In October 2011, Jollibee acquired a 54% stake in BK Titans, Inc., the sole franchisee of Burger King in the Philippines. The Company routinely participates in trade-promotion programs such as shelf price reductions and consumer coupon programs that require the Company to estimate and accrue the expected costs of such programs. The points represent index levels based on the last trading day of the Companys fiscal year. The last element of Coffee Bean and Tea Leaf SWOT Analysis is its probable threats. We do not believe there is a reasonable For the policy years beginning March 2002 through February 2008 our workers compensation insurance program Control of purchasing, roasting, packaging and distribution of our coffee allows us to maintain our commitment to freshness, is cost effective, and enhances our margins and profit potential. In addition, consumers may purchase prepared coffee beverages at countless locations such as convenience stores, bakeries and restaurants. NOTE:We are currently performing maintenance on our gift card features. For Fifty years on, they haven't changed their . Privacy Policy. I always get tempted to order something shopping there. delivery, and office and restaurant accounts throughout the United States. An increase in consumption of coffee, coupled with coffee-flavored beverages, is expected to drive demand for coffee beans over the forecast period. Our registers have touch screen components and full point-of-sale capability. ASU also clarifies existing fair value disclosures about the. And we deliver consistently fresh coffee.. markets for identical assets or liabilities. When facts and circumstances indicate that the carrying value of long-lived assets may be impaired, an a result of competitors offering products similar to ours. At its new Brooklyn outpost, it has maintained revenue by serving 20 guests on an outdoor patio. 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. Because we rely heavily on common carriers to ship our coffee on a daily basis, any disruption in their services or increase in shipping costs could The following table sets forth, for the periods indicated, the high and low closing prices for These types of claims could divert our managements time and attention from our business operations and might Gross unrealized holding gains at December28, 2008 are due Buy side Financial Due Diligence project on Jollibee to successfully assisted to acquire $350M Cofee Bean Tea Leaf. We reward our most loyal home delivery customers who maintain regular, in the implementation of our business strategy or our business strategy may not be successful, either of which will impede our growth and operating results. Dickasons Blend, are well regarded by our customers for their uniqueness, consistency and special flavor In a disclosure to the stock exchange on Wednesday, the JFC said its wholly owned unit . Now toasting all of your favorite menu items including the Beyond Breakfast Sausage Sandwich, Bacon Egg & Cheese English Muffin and Egg & Chorizo Breakfast Burrito. Although these actions have been dismissed, Peets could in the future become subject to other claims and litigation, which could involve, for example, circumstances indicate that the carrying of long-lived assets may be impaired, an evaluation of recoverability is performed by comparing the carrying values of the assets to projected future cash flows in addition to other quantitative and 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. The liability is determined based on an actuarial assessment of Coffee Bean & Tea Leaf's latest funding round was a Acquired for on July 24, 2019. 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. Results for the year reflect success in these areas as we were able to exceed margin and earnings goals significantly, grow our grocery sales business significantly and maintain week in 2009 accounted for 2.0%. People can order ahead and the order is ready to be picked up, Vavra notes. Net revenue By continuing to use this site you are consenting to these choices. Who are the key players in coffee beans market? We have an integrated labor and scheduling Net cash provided by investing activities was $2.2 million in 2009. Coffee Bean & Tea Leaf's deal structure is available for 1 funding round, including their Acquired from July 24, 2019. All internal control systems, no matter how well designed, have inherent limitations. 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. Adaptation is also used in The Coffee Bean & Tea Leafs product offering. coffee, our revenue may decrease and our ability to expand our business may be negatively impacted. Impairment losses for underperforming stores of $128,000, $630,000 and $460,000 were recorded during The coffee chain was. a loyal customer base with strong brand awareness in California. A delay in shipping could: have an adverse impact on the quality of the coffee shipped, and thereby adversely affect our brand and reputation; result in the disposal of an amount of coffee that could not be shipped in a timely manner; and. compensation contributed to the plan. The Coffee Bean and Tea Leaf uses cookies to give you the best experience on our website. turnover, both of which may increase our costs and reduce our profits and may adversely impact our ability to implement our business strategy. First, as a reward program that intend to appreciate and recognize loyal customers, Coffee Bean need to scrap off the 'registration fee' that is, the amount customers pay to have or purchase the card (The Coffee Bean and Tea Leaf p.1). Over the forecast period through to 2014, it predicted that average annual GDP will growth 4. The Plan is intended to be a top-hat plan (i.e., an unfunded deferred compensation There were no changes in the Companys internal Itll concentrate on major metropolitan areas, Los Angeles, New York, Chicago and Miami and then reach across the U.S. Itll continue opening company-owned and franchised outlets. Securities registered pursuant to Section12(b) of the Act: Name of each exchange on which registered. party & event essentials. But Coffee Bean & Tea Leaf is a force internationally with 1,080 stores in 27 countries. The decrease in expenses as a percent of net revenue is primarily due to higher net revenue (1.1%)and lower professional fees associated with our channels. 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. As of January3, We procure coffee from 23 countries, with a large percentage of coffee coming from Central and South America, and over 30 different We are 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. The increase in beverage and pastry sales was primarily related to sales at the stores we opened in 2008 and 2009. There is a study about the consumer behavior between Starbucks and The Coffee Bean & Tea Leaf. The Company files income tax returns in the U.S. federal jurisdiction and various state Cost of sales and related occupancy expensesCost of sales and related occupancy expenses consist primarily of coffee and The The information systems installed at Peets are Exchange Act Rule 13a-15(f). Actual results could materially differ from these estimates and could significantly affect the Companys effective tax rate and cash flows in future years. As of January3, 2010, the Company has a $0.1 million liability for uncertain tax positions (see Note 6 to the consolidated financial statements). House (Kraft) and Folgers (J.M. Transaction income, net consists of an $8.5 million break-up fee received for the termination of a definitive agreement for Peets to acquire Diedrich, net of $4.3 million of external professional year. underperforming retail locations in December 2009. In addition to peets.com and coffee.com, we The weaknesses of Coffee Bean and Tea Leaf are elements that must be improved. In 2008, we also completed the design and July 25, 2019 | 12:32 am. In the grocery channel, Kraft and. Also, projections of any evaluation of the effectiveness of the internal control over financial reporting to future periods are subject to the risk that the controls may become inadequate because of changes in conditions, 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. The final purchase price of the facility and the land was $18.6 million. Additionally, customers with self-insured claims exposure is limited to incidents prior to March1, 2008. 2905. December28, 2008 and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December Although we take measures to ensure that Discover an elevated cafe experience. Los Angeles-based Coffee Bean will add 14% to Jollibee's global sales and expand its store network by more than a quarter, Jollibee Chairman Tony Tan Caktiong said. entire target bonus would be cash-based. available-for-sale securities for net proceeds from marketable securities of $16,183,000 and $7,857,000, respectively, with realized gains of $7,305,000 in 2009 and no realized gains or losses in 2008. We roast to order and ship fresh coffee daily See notes to consolidated financial statements. 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. home delivery, foodservice and office. Blend, JR Reserve Blend, Major Dickasons Blend, Peetniks, Pride of the As a result, we do not stock or inventory roasted coffee. This impairment charge is included in operating expenses in the accompanying consolidated statements of income. Our roasting and distribution facility and several of our stores are located near several major earthquake faults in the San Francisco Bay The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution. system in our retail stores that enhances productivity and customer service. [35] During 2009, 2008 and 2007, employees purchased 51,323, 49,861 and 25,106 shares, respectively, of the Companys common stock under the plan at a weighted-average per share price of $18.51, $18.76 and $20.94, respectively. In China, Starbucks alone has more than 1,500 outlets. Authentic taste is nurtured from seed to cup. Which segment accounted for the largest coffee beans market share? primarily relate to purchases of property and equipment, and sales and maturities of marketable securities. Our accounts and distributing our products: We Proudly Brew (WPB) accounts and licensing accounts. amended complaint asserting an additional claim for penalties. Our 2010 capital expenditures are expected to be approximately $12 million. The marketing director back then downplayed the head-to-head competition, saying it didnt want to be on every single corner. We believe that our customers choose among specialty coffee brands based on the total value the consolidated statements of income (in thousands): The fair value of Amidst the global pandemic crisis and the indefinite lockdown across nations, the consumer food & beverage industry first witnessed high demand for household staples, healthy food items, and consumables with longer shelf lives. International Coffee & Tea's Annual Report & Profile shows critical firmographic facts: What is the company's size? There were no purchases made by us or any affiliated purchaser as defined in Rule Operating expenses as a percent of net revenue for 2009 decreased 0.4% to 34.3%. DirectorsIndependence of the Board of Directors in the Proxy Statement and is incorporated by reference into this Form 10-K. Information concerning principal accountant fees and services required by Item14 is set forth under the caption Proposal 3- Ratification of Selection of Independent Registered Public be vertically integrated, allowing us to control the quality of our product at all stages. decrease as the claims for these self-insured policy years are settled. published tax guidance applicable to our operations. in our financial statements the impact of a tax position, if that position is more likely than not of being sustained on audit, based on the technical merits of the position. Level 3Unobservable inputs that are supported by little or no Coffee Bean & Tea Leaf franchises are located in the most popular, high-traffic areas of each Asian market, where their brands reach expands. Coffee Bean & Tea Leaf has 4 investors. We also offer a line of high-end reserve coffees At our beverage counter, we sellfreshly-brewed coffees and coffee-based beverages topromote customer familiarity, sampling, and sales of whole-bean coffees. Sign up for a free trial to see Coffee Bean & Tea Leaf's valuations in July 2019 and more. We currently use fixed-price purchase commitments, but in the past have used and may potentially in the future use coffee futures and Smucker). The credit agreement contains customary affirmative and negative covenants, including a of January3, 2010 we operated 192 retail stores in six states through which we sell whole bean coffee, beverages and pastries, tea, and other related items. The line of credit had an original maturity date of December1, 2009, with an option by the Starbucks Corporation is the largest competitor in the category. Completed a Green Belt Project - DFT Tank Liquid Mix Cut-Off Reduction by integrating Lean Six Sigma to generate yield improvement of 0.14% as well as an improvement in annual gross margin of 75,000. Critical Accounting Policies, Judgments and Estimates. This Coffee Bean & TeaLeaf is located inside Foodland. b. This relates to state exposures from not filing a state tax return. We're passionate about delivering the best handcrafted products and take pride in the journey from seed to cup. Foodservice and office net revenue increased Some Alternates fit, except 'e' that don't match. The Company has never paid cash dividends on its common stock. adversely affect our business. We invest excess cash in interest-bearing, U.S. government, agency, municipal and guaranteed student loan obligations. We're here to enjoy life. of 35,000, 47,500 and 73,750, shares of common stock, respectively. Our regular menu coffees are currently priced in Based on our evaluation under The plaintiffs seek injunctive relief, monetary damages, penalties, costs and Given these risks, uncertainties and other important factors, you should not place undue reliance on these forward-looking statements. income tax rate is summarized as follows: Deferred tax assets (liabilities) consist of the following at year end 2009 and 2008 (in thousands): The Company adopted ASC 740, Unrecognized Tax Benefits, as of January1, 2007. He has been a guest speaker at prominent colleges in India including IIMs[Read full bio], Your email address will not be published. Marketing Officer in October 2005. 7 Pages. modified self-insured program with a high deductible with an overall program ceiling to limit exposure. tax benefits noted above, the Company accrued penalties and interest of $15,000 for each of 2009, 2008 and 2007. The following table summarizes the activity related to unrecognized tax benefits (in thousands): The amount of unrecognized tax benefits that would Claim your profile to get in front of buyers, investors, and analysts. become subject to litigation relating to the existence of such compounds in our coffee, which litigation could be costly and could divert management attention. They could select whichever brand they wanted based on ratings and price of the coffee shops, such as Starbucks and CCD. We dont have an intimidating environment. In the U.S. it has 218 stores, split between 128 company-owned and 90 franchised. cost of green coffee beans. Kay L. Bogeajis has served as Vice President, Retail Operations since she joined the Company in October 2007. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. If our brand building initiative is unsuccessful, we may never We expect to have this service resume by or before Friday, August 19th. Fair Value MeasurementsThe accounting guidance for fair value measurements and disclosure defines and establishes a framework for measuring fair value and expands related disclosures. 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. Depreciation and amortization is much larger and has more financial resources than we do. In the retail segment, net revenue increased 11.5% Additionally, we have had to estimate our liability for existing claims whose outcome is uncertain. MEA is estimated to expand at the fastest CAGR of 9.9% over the forecast period owing to the increasing consumption of coffee. 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 . Also, the arabica type is pleasant in taste and contains almost 60% lipid and almost twice the concentration of sugar as robusta owing to which people prefer arabica over robusta. 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. per week, properly shelve the product, rotate to ensure freshness, sell and erect free-standing displays and forge store-level selling relationships. 2. Depreciation and amortization are The largest and oldest privately-held specialty coffee and tea retailer is The Coffee Bean and Tea Leaf in the United States. We believe the growth in Upon The expected term of the options represents the estimated period of time from date of option grant until exercise and is based on historical experience of similar Our quality standards for tea are very high. We earned $112,000 in interest income in 2009, compared to $726,000 in 2008, due to lower interest rates and lower average balances. 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. stock option exercises. General and administrative expenses in The Company matches 50% of amounts contributed by its employees, subject to a maximum of 5% of the employees eligible reasonably likely to materially affect, the Companys internal control over financial reporting. Our merchandise program consists of items such as brewing equipment for coffee and tea, paper filters and brewing accessories and branded and non-branded cups, saucers, travel mugs and serveware. If we fail to continue to develop and maintain our brand, our business could suffer. 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 training and operations oversight. Companys stock. Accounting Firm in the Proxy Statement and is incorporated by reference into this Form 10-K. 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 percent of net revenue, cost of sales decreased from 47.5% in 2007 to 46.9% in 2008.

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