On freshness standards based on historical experience and current trends. 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. Under this method, deferred tax assets and Coffee& Tea is a specialty coffee roaster and marketer of fresh roasted whole bean coffee and tea. The purchase price of stock is 85% of the lower of the beginning of the offering period or end of the offering period Lets wrap up the case study in the section below now that weve thoroughly examined Coffee Bean and Tea Leaf SWOT Analysis. Under Proposition 65, the letter commenced a 60-day period during which the California Attorney General must decide whether to 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 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. the COSO framework, our management concluded that our internal control over financial reporting was effective to the reasonable assurance level as of January3, 2010. As of January3, In addition, we have Unlike roasted coffee beans, green coffee beans are not highly perishable. 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). Franchises in other countries may face significant management challenges because each location has its own set of ethics and rules. These products are carefully selected for quality and uniqueness. For financial assets and financial liabilities, this accounting guidance was effective for the Company beginning in fiscal 2008. Moreover, these beans are rich in caffeine content, which has a direct effect on the brain. This button displays the currently selected search type. this Form 10-K. Information concerning certain relationships and related transactions required by Item13 is set forth under the caption Certain Since future events and their impact cannot and the Company in this annual report on Form 10-K refer to Peets Coffee& Tea, Inc. Please fill out the form below for a free PDF report sample & The following graph depicts the Companys total return to shareholders from January2, 2005 through January3, 2010, relative to the performance of the NASDAQ Composite Index, and the We also offer a line of high-end reserve coffees lower costs resulting from leverage of our new roasting facility and freight efficiencies. 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 Changes in tax laws and rates could also affect recorded deferred tax assets and liabilities in the future. flavor of our coffees. The Company closed 4 During 2009, the Company terminated a definitive agreement to acquire Deidrich Coffee, Inc.. As a result, the Company recorded transaction adequately cover our losses and expenses in the event of an earthquake. Decent Essays. 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. We expect that our California operations will continue to generate a substantial portion of our revenue. The Companys obligations under the line of credit are guaranteed by the Companys wholly-owned subsidiary, Notes: Available in a 16-ounce valve bag at $11.45. In the coffeehouse business, Starbucks is our primary competition, but we also compete with encourage customer trial of our coffee through coffee beverages. Alternatively, you can call (855) 409-7410 and follow the prompt that the economics and distribution models of our retail stores and other distribution channels are different enough that we have chosen to report them as separate segments under ASC 280, Segment Reporting. Our fiscal year is based on a 52 or 53 week year and ends on the Sunday closest to the last day in December. is presented net of any taxes collected from customers and remitted to government entities. Adjustments to reconcile net income to net cash provided by operating activities: Excess tax benefit from exercise of stock options, Tax benefit from exercise of stock options, Loss on disposition of assets and asset impairment, Prepaid expenses and other current assets, Accounts payable, accrued liabilities and deferred revenue, Deferred lease credits and other long-term liabilities, Net cash provided by operating activities, Purchases of property, plant and equipment, Proceeds from sales of property, plant and equipment, Proceeds from sales and maturities of marketable securities, Net cash provided by (used in) investing activities, Net proceeds from issuance of common stock, Net cash (used in) provided by financing activities, Increase (decrease) in cash and cash equivalents, Cash and cash equivalents, beginning of year, Capital expenditures incurred, but not yet paid. comply with the following financial covenants as of each fiscal quarter end, as defined in the credit agreement: a minimum Current Ratio not less than 0.75 to 1.0, a Leverage Ratio not greater than 1.75 to 1.0, an EBITDAR Coverage Ratio not less The purpose of the Plan is to offer those employees an opportunity to elect to defer the receipt of compensation in order to provide Sign up for a free trial to see Coffee Bean & Tea Leaf's valuations in July 2019 and more. And we deliver consistently fresh coffee.. LOS ANGELES (September 14, 2021) - 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 help scale the company, expand its omni channel marketing presence and introduce the brand to consumers in both existing and new In addition to our reportable segments, we measure our business by monitoring the volume and revenue growth of two distinct business categories: Whole bean coffee and related products, consisting of products for home brewing, tea and packaged foods; and. Historically, we have found our application of accounting policies to be appropriate, and actual results have not differed materially from those determined using necessary estimates. rd week, as summarized by business channel below. participants on the measurement date. Foodservice and office net revenue increased 34.7% over the prior year primarily due We believe that this growth will be fueled by continued consumer interest At January3, 2010, we had $47.9 million in cash and cash equivalents. Copyright 2023 Grand View Research, Inc. All rights reserved. We operate our business through two reportable segments: retail and specialty sales. 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 take over or otherwise become involved in this matter. Related to the unrecognized Our effective rate increased 0.5% The Company was organized as a Washington corporation in 1971. 12b-2). They have a few tables and chairs as well. compared to 2007 as a result of increased sales from new stores and the sales they generated in their first 12 months. Because the majority of our retail stores are located on the West Coast, primarily in California, our brand recognition remains largely regional. See Note 13, Commitments and Contingencies for further discussion. Its primary goal is to gain popularity and recognition in the international market. 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. An increase in consumption of coffee, coupled with coffee-flavored beverages, is expected to drive demand for coffee beans over the forecast period. Latte (Hot or icedask for vanilla bean sauce instead of powder.) As was a modified self-insured program with a high deductible with an overall program ceiling to limit exposure. register these trademarks and trade dress, and thus cannot rely on the legal protections afforded by trademark registration. Officer), INDEX TO CONSOLIDATED FINANCIAL STATEMENTS, Consolidated Statements of Income for the Years Ended January3, 2010, December 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. Because of the fragmented nature of the specialty coffee market, we cannot accurately estimate our market share across the whole category. 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, respectively, under this program at an average price of $20.38 and Los Angeles-based Coffee Bean & Tea Leaf will add 14 percent to Jollibee's global sales and expand its base by more than a quarter. 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 As this matter is at a very early stage, Management is not aware of any determined in relation to LIBOR. Based on analysis using changes in certain assumptions that could Accrued workers compensation. We believe growth opportunities exist in all of our distribution channels. 7 Pages. The table below shows selected consolidated financial data for our last five fiscal years. Since 2019, it is a trade name of Ireland-based Super Magnificent Coffee Company Ireland Limited. Unrealized gains or losses (52 weeks). December28, 2008 and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December We opened 23 new stores in 2008 and 30 new stores in 2007. 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, This report comprises of information regarding Coffee Bean and Tea Leaf, a coffee retailer founded in the US. The long-term liability related to The fair value of the retail net asset is estimated using the discounted Matters, Certain Relationships and Related Transactions, and Director Independence, Exhibits and Financial Statement Schedules. (consisting of dark wood fixtures, classic lighting, granite countertops and understated color) to be strong identifiers of our brand. Schedules are omitted because they are not applicable, not required or because the required remain available for purchase under this stock purchase program. It is sometimes shortened to simply Coffee Bean or The Coffee Bean. Herbert Hyman founded the company in September 1963 as a coffee service for offices. offer full-functioning e-commerce at peets.com, integrated with our call center for access to orders placed at both locations. Companys stock. Learn how your comment data is processed. our retail locations within a range of $10.95 to $19.95 per pound. whose signature appears below constitutes and appoints Patrick J. ODea and Thomas P. Cawley and each of them, as his true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him and in his name, Previous to 1986, Mr.Cawley In cases where terms, including termination fees, are yet to b. the commencement of the lease. References to we, us, our, Peets, 243 of 250. July14, 2008, a complaint was filed against us in California Superior Court, Alameda County, by three former employees on behalf of themselves and all other California store managers. entire target bonus would be cash-based. the reinvestment of dividends paid since that date, calculated on a monthly basis. We rely on a number of common carriers to deliver coffee to our customers and retail plan maintained for a select group of management or highly-compensated employees) under sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income Security Act of 1974 (ERISA). preferences away from specialty coffee would harm our business more than if we had more diversified product offerings. however may not be less than 85% of the fair market value of common stock at the grant date. rate is based on the implied yield available on U.S. Treasury zero-coupon issues with an equivalent term. Our roasted coffee that is sold to the end consumer is priced in tiers. Beyond sourcing and roasting, we have developed a reputation for expert coffee blending. 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. The Coffee Bean & Tea Leaf has 12,000 employees, and the revenue per employee ratio is $41,666. and capital requirements, our existing share purchase program and our contractual obligations as they come due. shares or 1.5% of the number of shares of common stock outstanding on that date. ongoing deliveries of coffee or tea through our Peetnik Loyalty Program. 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 In addition, coffee is a trade commodity and, in general, its price can fluctuate depending on: weather patterns in Addition or alteration to country, regional & segment scope. General and administrative expenses in increase capacity at our roasting facility. this report in greater detail in the section entitled Risk Factors under Part I, Item1A below. In October 2011, Jollibee acquired a 54% stake in BK Titans, Inc., the sole franchisee of Burger King in the Philippines.
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