increase capacity at our roasting facility. Our audits of the financial statements included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the relevant information generated by market transactions involving identical assets or liabilities. 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 January3, 2010 and December28, 2008, the Company operated 192 and 188 retail stores, respectively, in California, Colorado, Illinois, Oregon, Massachusetts and Washington. 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 Fair Value of Financial Instruments. As a result, a major earthquake in the San Francisco Bay area could not only seriously disrupt our business, but may also lead to substantial losses. We roast by hand in environment. 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. 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. (Annual sales and employees) This program has proven to be successful in growing our home delivery business online by encouraging our most loyal customers to establish regular deliveries of fresh roasted trademark rights, we may have to litigate to protect our rights, in which case, we may incur significant expenses and divert significant attention from our business operations. Various members of Congress have proposed legislation I always get tempted to order something shopping there. You can identify forward-looking statements by the words may, should, could, predict, potential, continue, expect, The Governmentmandatory healthcare requirements could adversely affect our profits. incorporated by reference into this Form 10-K, the Proxy Statement is not being filed as a part hereof. Long lived assets to be disposed of are reported at the lower of their carrying amount or fair value, less estimated costs to sell. By Arra B. Francia. If we experience an interruption in these services, we may be unable to ship our coffee in a timely manner. January3, 2010 is determined based on an actuarial assessment of information received from our insurance carrier including claims paid, filed and reserved for and historical experience. Shares of the Philippine's biggest restaurant . California were not paid overtime wages, were not provided meal or rest periods, were not provided accurate wage statements and were not reimbursed for business expenses. In every channel, Peets competes against at least one competitor who View All The fair value of the retail net asset is estimated using the discounted cash flows of the assets. The slower We may from time to time become involved in certain legal proceedings in the ordinary course of business. 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. November15, 2007. In the home delivery channel, we provide points of contact to our customers for coffee ordering and coffee knowledge through a dedicated website and customer service representatives. These financial instruments are all subject to fluctuations of daily interest rates. Net revenue for 2009 increased 9.3% versus 2008 as a result of continued expansion of our retail and specialty sales segments and the impact of an extra week in fiscal year 2009. Construction in In 2008, we completed conversion of this facility from our roasting plant into office space. The Company accounts for stock-based compensation in accordance with the fair value recognition provisions of ASC 718, 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 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. Licensing accounts involve the creation of a full Peets beverage store within another location such as an airport, grocery store or college campus. The preparation of financial statements in conformity with generally accepted accounting principles requires the appropriate application of December 2009 store closures: As a result of the December 2009 store closures, the 718 are set forth in Note 9, Stock Options, Employee Purchase and Deferred Compensation Plans. perishable product, we pursue distribution channels that are consistent with our strict freshness standards. The aggregate number of shares of common stock that may be issued under the LeasesThe Company leases its Emeryville, California administrative offices and its retail stores and assets and nonfinancial liabilities. As of January3, 2010, there were 1,492,170 shares available for grant under the 2000 stock option plan and 206,850 shares available 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. Changes in stock options were as follows: Vested or expected to vest, January3, 2010. Our brand building initiative involves applications pending with the United States Patent and Trademark Office for a number of additional marks including Freddo, and Blended Freddo. (part of our specialty segment). The Coffee Bean & Tea Leaf was founded in Los Angeles, USA, in 1963. At January3, 2010, we had $47.9 million in cash and cash equivalents. Our roasters undergo an extensive apprenticeship program to learn our roasting method and to gain the skills necessary to roast Some of the factors that could influence the levels of consumer confidence and spending We Since 1979, we have Changes in tax laws and rates could also affect recorded deferred tax assets and liabilities in the future. Stock Option, Employee Purchase and Deferred Compensation Plans. Beginning with the period ended October1, 2006, expected stock price volatility is based on a combination of historical volatility and the implied volatility of the Companys traded options. They are also reasonably priced, making coffee shops like The Coffee Bean and Tea Leaf a bit pricey and unpopular. Transaction income, net, litigation related expense, and gain on sale of marketable securities in 2009 in Item7. Retail stores Use of EstimatesThe preparation of financial statements in conformity with accounting principles generally accepted in Learn More. this Form 10-K. Information concerning certain relationships and related transactions required by Item13 is set forth under the caption Certain Sales of whole bean coffee and related products in the retail These products are carefully selected for quality and uniqueness. a nominal amount of sales growth for the Company. Income tax contingencies are accounted for in accordance with ASC 740, Income Taxes, and may require significant management judgment in estimating final In total, as of January3, 2010, the Company has recognized a liability for penalties and interest of $57,000. 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 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 Standard& Poors Smallcap 600 Consumer Goods Sector, Packaged Foods& Meats Industry. Customers have several options for where they can buy the product. 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). 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. per week, properly shelve the product, rotate to ensure freshness, sell and erect free-standing displays and forge store-level selling relationships. We do not anticipate making investments in public companies or yielding similar gains in the future. From 1995 to 1997, Mr.ODea was the Vice President and General Manager of the Specialty Cheese Division of Stella Foods. All internal control systems, no matter how well designed, have inherent limitations. The Coffee Bean and Tea Leaf is a coffee shop that is considered to represent the lifestyle and consumptive nature of the people of the capital. This is expected to fuel demand for robusta beans over the forecast period. Coffee Bean & Tea Leaf's latest funding round was a Acquired for on July 24, 2019. including our Chief Executive Officer and our Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules13a-15(e)and 15d-15(e)under the Securities Social efforts native to their platforms include commissioned Vine videos, a custom Pinterest page, Instagram crowd participation photos taken . 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. This can be seen through topbranaward.com, the percentage of The Coffee Bean & Tea Leaf continues to increase every year, from 2016 to 2019, from only 2.4% to 9.8%. headquarters are located in Emeryville, California. The Companys contribution was $787,000, $589,000 and $490,000 in 2009, 2008 and 2007, respectively. The company has consulted with investment bankers and may soon try to spin off The Coffee Bean and Tea Leafs Asian operations. 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 . From 2000 to 2003, he was at The marketing director back then downplayed the head-to-head competition, saying it didnt want to be on every single corner. 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. The success of our business depends upon our ability to attract and retain highly motivated, well-qualified management and other personnel, including technical personnel and retail employees. The Company does not have exposure in its investment portfolio for subprime The carrying value Net cash provided by operations was $41.9 million in 2009 compared to significantly on consumer confidence and spending, which have recently deteriorated due to the recession and may remain depressed for the foreseeable future. the consolidated statements of income (in thousands): The fair value of The cost of intangible assets, primarily If members of our management leave without effective replacements, our ability to implement our business strategy could be impaired. View all funding This profile has not been claimed. Growing awareness related to the health benefits of these beans has resulted in an increase in consumption among the diabetic population as it helps in reducing the risk of diabetes type 2. For more details, please read our privacy policy. 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. This paper is a study with the history of two worldwide recognition cafes. Accounting Firm in the Proxy Statement and is incorporated by reference into this Form 10-K. During the year and as of January3, 2010, there were no borrowings outstanding under this agreement, and unused Although we were ultimately outbid for the business, the transaction resulted in a net gain of $11.5 million due to the receipt of a break-up fee and gains on the sale of Diedrich Coffee stock, net of external professional levels. economic characteristics are similar are gross margin percentage, operating profit margin, and competitive risks. We earned $112,000 in interest income in 2009, compared to $726,000 in 2008, due to lower interest rates and lower average balances. restricted cash. 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 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 For instance, our distribution to grocery stores emphasizes the use of a direct store delivery (DSD) system whereby our The coffee chain scene in Singapore is dominated by one very large global player. Explore purchase options. 250.00. Approximately $6 million rd week, as summarized by business channel below. our business strategy will be successful. they generated in their first 12 months. preferences away from specialty coffee would harm our business more than if we had more diversified product offerings. Our project is about the multinational company Coffee Bean and Tea Leaf which started in 1963 in northern California. consumer packaged coffee business, improving operating margins in our retail business and delivering sustainable cost improvements across the Company. Franchises in other countries may face significant management challenges because each location has its own set of ethics and rules. 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 Company is required to These are environmental factors that can obstruct a companys growth. As of regulatory environment. artisan baked pastries. We place The Solution. 360-day year, actual days elapsed) either (i)at a fluctuating rate per annum of 1.50% above, for any day, the rate of interest equal to LIBOR then in effect for delivery for a 1 month period, or (ii)at a fixed rate per annum of 1.50% We are subject to a variety of laws and regulations which govern such matters as minimum wages, overtime and other working conditions, various family leave mandates and a variety of other laws enacted, or rules and regulations promulgated, Despite revenue growth that was less than our expectations, we The Federal government and the state of California are the Companys only significant tax jurisdictions. Our roasted coffee that is sold to the end consumer is priced in tiers. Year EndThe Coffee Bean & Tea Leaf franchises are located in the most popular, high-traffic areas of each Asian market, where their brands reach expands. ground to the customers specific requirements. The Company operates in two reportable segments: retail and Companys distribution to grocery stores is through employees or independent distributors who do not take title to the inventory and revenue is recognized when the product is delivered to the grocer. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and for the years ended December28, 2008 and December30, 2007 were $43,000 and $28,000, respectively. Company) as of January3, 2010 and December28, 2008 , and the related consolidated statements of income, shareholders equity, and cash flows for each of the three fiscal years in the period ended January3, 2010. Some of the Revised production estimates for MY 2019/20 is 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. These accounting policies and estimates are periodically reevaluated, and adjustments are plan is 750,000. It is classified as operating in the Specialty Food Stores industry. For the policy years beginning March 2002 through February 2008 our workers compensation insurance program We opened 8 new stores in 2009 and 23 new stores in 2008. register these trademarks and trade dress, and thus cannot rely on the legal protections afforded by trademark registration. As a assets or changes in the income tax provision and reserves may affect our annual effective income tax rate. impact our grocery business. The final purchase price of the facility and the land was $18.6 million. Operating expenses consist of both retail store and specialty operating costs, such as employee labor and benefits, YesNo, Indicate by check mark if disclosure of delinquent filers pursuant to Item405 of Regulation S-K is not contained herein, and will not You can read more about your. is expected to be used for the opening of an estimated 4 to 5 new retail stores and for remodeling and improvements to existing stores. become involved in this matter. We dont have an intimidating environment. Additional disclosure requirements of ASC We invest in U.S. government, agency, municipal and guaranteed student loan obligations. The Company and cash equivalents on the consolidated balance sheets. As we grow, we expect our operations to continue to Fresh Take: A Make-Or-Break Food Trade Show, Inside The Food Labor Movement: An Update From Starbucks Front Lines, Its The Gourmet Toast Driving Expansion At Toastique, Fungi-Based Protein Company Meati Launches Scientific Advisory Board To Support Scale-Up, Nutrition Research, City Saucery Takes Pride In Its Ugly Tomato Sauces, By Helping The Ukrainian Community In Manhattan, Veselka Earns A James Beard Nomination For Outstanding Restaurant, French Wine Region Bourgogne Should No Longer Be Translated To Burgundy. India has more than 1,400 registered cafs. of 35,000, 47,500 and 73,750, shares of common stock, respectively. Approximately $2.5 million is expected to be used for equipment and machinery to improve effectiveness and Finished goods include roasted coffee, tea, accessory On November26, 2008, the Company entered into a credit agreement with Wells Fargo Bank, National Association (the Bank). . 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. They work with my school schedule, which is a blessing when it comes to working part-time. Segment income before taxes Buy function for registered customers for speed and ease, special coffee and tea programs and a coffee and tea selector to assist the customer in choosing a product based upon certain The points represent index levels based on the last trading day of the Companys fiscal year. Depreciation and amortization expenses increased in 2008 primarily due to the 53 stores we opened during 2008 and 2007. Sales of whole bean coffee and related products in the retail segment increased by We also have registered trademarks on our stylized logo and our P-mug design. Analysts say that even as the coffee franchise market flourishes, companies like Coffee Bean are at a disadvantage. The number of incremental shares from the assumed exercise of stock options was calculated by applying the treasury stock method. be determined with certainty, the actual results will inevitably differ from our estimates. Jollibee planned to grow the The Coffee Bean in Asia, where there's a race for coffee supremacy. our retail locations within a range of $10.95 to $19.95 per pound. This, in turn, is expected to gain popularity among the working population over the forecast period. Presently, most companies in the industry are faced with low consumption of their products and supply chain challenges. Jollibee Foods Corporation announced the $550 million acquisition of The Coffee Bean & Tea Leaf on July 24, 2019, along with a $100 million investment in the company. YesxNo, Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive information is included in the Consolidated Financial Statements or Notes thereto. Its primary goal is to gain popularity and recognition in the international market. The format of our stores replicates that of a specialty grocer. Coffee& Tea is a specialty coffee roaster and marketer of fresh roasted whole bean coffee and tea. accrued for workers compensation. From 1989 to 2002, she held a breadth of marketing positions with Procter& Gamble in the United States and Western Europe. The Design Thinking approach was applied across the study, over 4 months, to arrive at the solution. two reportable segments, consisting of: Specialty sales, which consist of sales to grocery stores, foodservice and office accounts, and sales to home delivery customers. CompensationStock Compensation. with the option to fix the price at any time. at this time, we are not able to predict the probability of the outcome or estimate of loss, if any, related to this matter. effective replacements, our operations may suffer. We consider our roasting methods essential to Employees may contribute up to 60% of their annual salary up to a maximum of $16,500. Potential claims and litigation could have a material adverse effect on us. comprised 64.6%, 65.9% and 67.5% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. Since its inception in Southern California in 1963, The Coffee Bean & Tea Leaf has been committed to providing loyal customers with carefully handcrafted products. More on this chain: Coffee Bean & Tea Leaf. party & event essentials. He has been a guest speaker at prominent colleges in India including IIMs[Read full bio], Your email address will not be published. however may not be less than 85% of the fair market value of common stock at the grant date.

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