coffee bean and tea leaf annual report 2019
The Company authorized 200,000 shares of common stock available for issuance under the plan, which will be increased as of each annual meeting of the Companys shareholders, beginning 2002 until 2020, by the least of 200,000 two reportable segments, consisting of: Specialty sales, which consist of sales to grocery stores, foodservice and office accounts, and sales to home delivery customers. In general, my coworkers are helpful and friendly, and customers are understanding and fun to interact with. Opinions expressed by Forbes Contributors are their own. The company has consulted with investment bankers and may soon try to spin off The Coffee Bean and Tea Leafs Asian operations. We believe we offer competitive benefits packages to attract and retain valuable employees. The liability is determined based on an actuarial assessment of The growing popularity of coffee among the young population and an increasing number of cafes are expected to provide growth opportunities for coffee beans in the region. Cash and Cash EquivalentsThe Company considers all liquid investments with original maturities of three months or less to be cash equivalents. area. attorneys fees, and prejudgment interest. The specialty coffee category is highly competitive and fragmented among various distribution channels. Kay L. Bogeajis has served as Vice President, Retail Operations since she joined the Company in October 2007. 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. The slower growth in whole bean and related products was primarily due to continuing cannibalization of bean sales in retail stores as we increased the availability of Peets coffee in grocery stores and our own new retail Income tax contingencies are accounted for in accordance with ASC 740, Income Taxes, and may require significant management judgment in estimating final adequately cover our losses and expenses in the event of an earthquake. Interest income, net includes interest income and web site. After extensive research and analysis, Zippia's data science team found the following key financial metrics. Bakery Cafe. KNOW ALL PERSONS BY THESE PRESENTS, that each person The Companys common stock is traded on the Nasdaq National Market under the symbol PEET. No purchase commitment. environment. In By Lee Breslouer. known to the Company to hold 5% or more of the outstanding Common Stock have been excluded as such persons may be deemed to be affiliates of the Company. 28, 2008 and December30, 2007, Consolidated Statements of Shareholders Equity for the Years Ended January3, 2010, The majority of our business is in California, which has experienced an unpredictable workers compensation environment. Jollibee Buys Coffee Bean for $350 Million; Shares Fall 8% The total amounts 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. Jollibee buys Coffee Bean & Tea Leaf | CNN Business Leopard. pending trademarks, we consider the packaging for our coffee beans (consisting of dark brown coloring with African-style motif and lettering with a white band running around the lower quarter of the bag) and the design of the interior of our stores On average, we offer four to six such coffees every year, including our Anniversary Blend and Holiday Blend. chart set forth below was prepared by Research Data Group, Inc., which holds a license to provide the indices used herein. If the original lease term is less than the Companys anticipated rental period, one or more stated option 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. modified self-insured program with a high deductible with an overall program ceiling to limit exposure. Latte (Hot or icedask for vanilla bean sauce instead of powder.) Long-lived assets to be disposed of are reported at the lower of their carrying amount or fair value, less estimated costs to sell. HOMEGROWN food giant Jollibee Foods Corp. (JFC) is embarking on its largest acquisition to-date with a $350-million deal to acquire California-based firm The Coffee Bean & Tea Leaf (CBTL). January3, 2010 and December28, 2008, the Company operated 192 and 188 retail stores, respectively, in California, Colorado, Illinois, Oregon, Massachusetts and Washington. Executed Yield Reconciliation Project to verify unknown losses and sifted for solutions to . Apr 26, 2010 at 16:03. (Diedrich). 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. 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, The information systems installed at Peets are growth in whole bean and related products was primarily due to continuing cannibalization of bean sales in retail stores as we increased the availability and sales levels of Peets coffee in grocery stores and our own new retail stores. Freshness Sealed Containing 100% Arabica coffees and premium teas, the extraction process is specially designed to ensure optimum flavor and delicate aroma. Critical Accounting Policies, Judgments and Estimates. and cash equivalents on the consolidated balance sheets. The global market is highly competitive. Our Website. used to manage our operations and increase the productivity of our workforce. At our beverage counter, we sellfreshly-brewed coffees and coffee-based beverages topromote customer familiarity, sampling, and sales of whole-bean coffees. Realized gains and losses are determined on the 2009, 2008 and 2007, respectively, which were classified as operating expenses on the consolidated statements of income. Use of EstimatesThe preparation of financial statements in conformity with accounting principles generally accepted in 3, 2010, December28, 2008, and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December In addition, we indirectly compete with more mainstream brands as Maxwell Dickasons Blend, are well regarded by our customers for their uniqueness, consistency and special flavor Since we only roast our coffee to order, we do not carry inventory of roasted coffee in We believe that our market share in the specialty category in all channels is driven by the quality of our product, which is based on a We are Information concerning executive and director compensation required by Item11 is set forth under the caption Executive Compensation in the Proxy Statement and is incorporated by reference into this Form 10-K. Information concerning security ownership of certain beneficial owners and management and equity compensation plans required by Item12 effective replacements, our operations may suffer. Cash flows for retail net assets are identified at the individual store level. 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 2010, the number of shares of common stock All internal control systems, no matter how well designed, have inherent limitations. and the actual payment amount based on class participation is not. Level 3Unobservable inputs that are supported by little or no 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. Gift CardsThe Company sells gift cards in its retail stores and through its Presently, most companies in the industry are faced with low consumption of their products and supply chain challenges. In host markets, branding and image remain consistent with that of the home market. From 1989 to 2002, she held a breadth of marketing positions with Procter& Gamble in the United States and Western Europe. This method is known as the murexide test. The license partner is responsible for the build-out and management of the unit and we provide These distributors have their own sales and account management resources. Our registers have touch screen components and full point-of-sale capability. Actual results could differ from those estimates. See Note 13, Commitments and Contingencies for further discussion. Income TaxesThe Company accounts for income taxes using the liability method. , peets.com, Blend 101, eCup, Espresso Forte, Fresh Fridays, Gaia Organic Blend, Garuda Some of Coffee Bean & Tea Leafs threats include: The Coffee Bean and Tea Leaf are not the only brands that people prefer; numerous other brands are just as well-known and desired as The Coffee Bean. 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). they generated in their first 12 months. 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. Coffee Bean & Tea Leaf's deal structure is available for 1 funding round, including their Acquired from July 24, 2019. believes it is more likely than not that all of the deferred tax assets will be realized. During the year and as of January3, 2010, there were no borrowings outstanding under this agreement, and unused chocolate and sugar confectionery. Operating expensesOperating expenses consist of both retail store and specialty operating costs, such as employee labor Since 1979, we have So, lets take a look at the opportunities Coffee Bean & Tea Leaf has to produce outstanding results. Localized Strategy | Let's Make it Warm Again! Sign up for a free trial to see Coffee Bean & Tea Leaf's valuations in July 2019 and more. Now its working with franchiser Hudson River Coffee & Tea to grow the business across the metropolitan area. The aggregate intrinsic value of stock options exercised was $2,864,000, $1,169,000 and $3,761,000 percent of net revenue, cost of sales decreased from 47.5% in 2007 to 46.9% in 2008. The Federal government and the state of California are the Companys only significant tax jurisdictions. -2.00 -0.79%. Every other coffee item has a substitute product, which poses a significant threat to such cafes. For instance, green coffee beans are consumed to reduce weight and improve metabolism. and legal costs. Approximately $6 million ground in socal, steeped in culture. The Coffee Bean & Tea Leaf's Competitors, Revenue, Number of Employees, Funding, Acquisitions & News - Owler Company Profile 2,107 Followers on Owler Overview Competitors Funding News & Insights President & CEO John Fuller CEO Approval Rating 90/100 Weigh In 1963 Los Angeles California Los Angeles Metropolitan Area and marketable securities and with operating cash flows. The Company also has $25 million available through a credit agreement entered into on November26, 2008 with Wells Fargo Bank, On October8, 2008, the Company filed an answer denying the allegations set forth in the complaint and asserting a number of affirmative defenses thereto. For the next twelve months, we expect our cash flows from operations and cash and marketable securities to be sufficient for our operating Cost of sales and related occupancy expenses. ACCOUNTING FIRM. used a portion of these funds to invest in property and equipment and the purchase of our common stock. Under this method, deferred tax assets and 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. The credit agreement contains customary is presented net of any taxes collected from customers and remitted to government entities. We have been, and in the future may be, the subject of complaints or litigation from current, former or prospective employees or governmental Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and Key Principal: SUNNY SASSOON See more contacts Industry: Coffee shop. This, in turn, is expected to fuel demand for coffee beans over the forecast period. we considered necessary in the circumstances. offered health care. 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 coffee or tea. Coffee Bean and Tea Leaf has returned to New York City; its new location is in Fort Greene, [+] Brooklyn. 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 2010, we 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 to warn consumers that This ASU will not have an impact to our consolidated financial statements except to require us to provide increased disclosure. In addition, we have Solved TASK 2: Report Read the case study on "The Coffee | Chegg.com YesNox, Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the turn our inventory of green coffee beans two to three times per year.
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