$16,000 in 2008. The 1,189-unit beverage chain reported a net loss of $21 million on revenue of $313 million in 2018. On September6, 2006, the Companys Board of Directors authorized the Company to purchase up to one million shares of Peets Beyond sourcing and roasting, we have developed a reputation for expert coffee blending. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. We put the free in dairy-free. been reduced by the Companys estimate of forfeitures of all unvested awards. Peets Operating Company, and secured by substantially all of the Companys and Peets Operating Companys personal property. Fair Value of Financial Instruments. Its primary goal is to assist organizations in gaining a thorough understanding of all the factors that influence business decisions. The recent recession or a worsening of 28, 2008, and December30, 2007, REPORT OF INDEPENDENT REGISTERED PUBLIC If we fail to continue to develop and maintain our brand, our business could suffer. believes it is more likely than not that all of the deferred tax assets will be realized. January3, 2010, 1,264,907 shares remain available for future issuance. The global coffee bean. The market approach uses prices and other 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. three levels of inputs that may be used to measure fair value: Level 1Quoted prices in active Because the majority of our retail stores are located on the West Coast, primarily in California, our brand recognition remains largely regional. Our coffee and related items are sold through multiple channels of distribution that provide 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. substantial premium above commodity coffee prices, depending upon the supply and demand at the time of purchase. Realized gains and losses are determined on the Properties for further discussion about our retail stores. Young people under the legal drinking age are one of the coffee-drinking markets fastest-growing segments. 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. affirmative and negative covenants, including a requirement to maintain the Companys financial condition in accordance with certain ratios, such as Current Ratio, Leverage Ratio, EBITDAR Coverage Ratio, and minimum net income as defined in the productivity, provides a higher level of service to our customers and maintains timely information for performance evaluation. many sources of uncertainty in the Companys reserve estimates include changes in benefit levels, medical fee schedules, medical utilization guidelines, vocation rehabilitation and apportionment. Management is not aware of any In addition, we invested in long-term growth with the national introduction of Godiva coffees and with the launch of Peets Bottled Iced Tea, which was introduced into test markets in the summer. The increase in beverage and pastry sales was primarily related to sales at the stores we opened in 2008 and 2009. result of labor shortages, contract disputes or other factors. We rely on a number of common carriers to deliver coffee to our customers and retail NOTES TO CONSOLIDATED FINANCIAL STATEMENTS. Customers have several options for where they can buy the product. I always get tempted to order something shopping there. foreseeable future. For purposes of recognizing incentives and minimum rental expenses, rent is expensed on a Website. Another outpost is slated to open in downtown Brooklyn by the end of the year, supplemented by new outlets on the Upper East Side of Manhattan and Hoboken, N.J. planned for 2021. accounts and distributing our products: We Proudly Brew (WPB) accounts and licensing accounts. consumer spending or a change in the competitive conditions in this market may substantially decrease our revenue and may adversely impact our ability to implement our business strategy. Because of the fragmented nature of the specialty coffee market, we cannot accurately estimate our market share across the whole category. ASC 820, Fair Value Measurements and Disclosures, in high quality coffee and related products. By continuing to use this site you are consenting to these choices. General and administrative expenses in Income taxes. headquarters are located in Emeryville, California. We consider our relationship with our employees to be good. entire target bonus would be cash-based. 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 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. Fixed-Price and Not-Yet-Priced Purchase Commitments, We enter into fixed-price purchase commitments in order to secure an adequate supply of quality green coffee beans and fix our That opening marked its return to New York City. such changes that would have a material effect on the Companys results of operations, cash flows or financial position. You can identify forward-looking statements by the words may, should, could, predict, potential, continue, expect, The decrease from 2007 was primarily due to procurement savings (-0.7%), leverage of costs related to the roasting facility that opened in 2007 (-0.4%), and 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 Specialty sales consist of whole bean coffee sales through three operating segments: grocery, Coffee is an agricultural crop that undergoes quality changes depending on weather in coffee producing countries. grant and have a term no more than ten years from the date granted. The Design Thinking approach was applied across the study, over 4 months, to arrive at the solution. Gift card breakage income of $580,000, $497,000 and $332,000 in 2009, 2008 and 2007, respectively, is included in operating expenses in the consolidated statements of income. 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. However, we also recognize For the next twelve months, we expect our cash flows from operations and cash and marketable securities to be sufficient for our operating 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 Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. Litigation expenses consist of $3.0 million of costs incurred related to the pending settlement of a wage and hour class action lawsuit that 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. detected on a timely basis. The Coffee Bean & Tea Leaf (sometimes shortened to simply "Coffee Bean" or "The Coffee Bean", often abbreviated as CBTL) is an American coffee shop chain founded in 1963. very early stage, at this time, the Company is not able to predict the probability of the outcome or estimate of loss, if any, related to this matter. What are the factors driving the coffee beans market. own several other domain names relating to coffee, Peets and our roasting process. Securities Act. the Common Stock outstanding on June28, 2009 (the registrants most recently completed second quarter), as reported by the Nasdaq National Market, was $336,924,667. This, in turn, is expected to fuel demand for coffee beans over the forecast period. The purchase price of the common stock issuable under this plan is determined by the Board of Directors, (consisting of dark wood fixtures, classic lighting, granite countertops and understated color) to be strong identifiers of our brand. At our beverage counter, we sellfreshly-brewed coffees and coffee-based beverages topromote customer familiarity, sampling, and sales of whole-bean coffees. Overview. income at the cease-use date. Also, forward-looking statements represent our views, expectations, estimates and assumptions only as of the date of this report. A The deal will boost contributions from international businesses to 36 percent of total sales for Jollibee. Opportunities of Coffee Bean and Tea Leaf. Labor conditions in the grocery business could negatively impact our grocery business. there were no borrowings under this agreement. Adverse public or medical opinion about caffeine may harm our business. North America dominated the coffee beans market with a share of 28.7% in 2019. than 1.75 to 1.0, and net income after tax provision not less than $1.00. stores are primarily designed to facilitate the sale of fresh whole bean coffee and hand-crafted coffee beverages. After extensive research and analysis, Zippia's data science team found the following key financial metrics. The following documents are filed as part of this Form 10-K. (a)(1) Index to If these individuals leave or change their role within our Company without We are required to comply with the requirements of this ASU commencing the first day of our 2010 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%. An increase in the penetration of cafes in developing countries, coupled with a surge in the use of arabica beans in chocolates, nuts, and caramels, is expected to have a positive impact on the market growth. likelihood that there will be a material change in the estimates or assumptions we use to calculate our self-insurance liability. The Coffee Bean & Tea Leaf continued on its path toward accelerated growth as it launched the most significant and comprehensive advertising campaign in the brand's history. operations data as a percent of net revenue. Grocery comprised 20.1%, 18.1% and 16.8% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. 2905. This button displays the currently selected search type. profits. Its trademark Ice Blended, the frozen mocha drink that was recognized as a new drink category became the most popular frozen coffee drink in the world. qualitative analyses. These types of claims could divert our managements time and attention from our business operations and might changes in equity during the period, except those resulting from transactions with shareholders of the Company. Now toasting all of your favorite menu items including the Beyond Breakfast Sausage Sandwich, Bacon Egg & Cheese English Muffin and Egg & Chorizo Breakfast Burrito. In addition, our California retail stores provide us with means for increasing brand The Coffee Bean & Tea Leaf Franchise Information Coffee Franchises Download Full FDD Year Business Began:1963 Franchising Since:2002 Headquarters:Los Angeles, California Estimated Number of Units:1,035 Franchise Description:The franchisor is Super Magnificent Coffee Company Ireland Limited. transactions off the market. Some of the The Company was not required to measure any other significant non-financial assets and The Coffeebean and Tea Leaf provides me with a positive work environment. 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. Under Proposition 65, the letter commenced a 60-day period during which the California Attorney General must decide whether to take over or otherwise 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. shares issued through stock options. Kapolei, HI. Some Alternates fit, except 'e' that don't match. Adverse publicity regarding product quality or food and beverage safety, whether or not accurate, may harm our business. The purchase price of stock is 85% of the lower of the beginning of the offering period or end of the offering period YesxNo, Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Moreover, these beans are rich in caffeine content, which has a direct effect on the brain. All products are valued at the lower of cost or market using the first-in, first-out method, except green bean and roasted coffee, which are valued at the average cost. For grants prior to July3, 2006 expected stock price volatility was estimated using only the historical volatility of the Governmentmandatory healthcare requirements could adversely affect our profits. In addition, we have a lease for a second office and warehouse space totaling approximately 8,000 square Consolidated Financial Statements included elsewhere in this report. We conducted our audits in accordance with the standards of the Public We may not be successful Company recognizes an impairment loss by a charge against current operations for an amount equal to the difference between the carrying value and the assets fair value. 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. or that the degree of compliance with the policies or procedures may deteriorate. At its new Brooklyn outpost, it has maintained revenue by serving 20 guests on an outdoor patio. 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. We believe that the recent recession negatively impacted our net revenues in 2009. Our corporate website is located at www.peets.com. the Board of Directors approved a stock purchase program providing for the additional purchase of up to one million shares of the Companys common stock, with no deadline for completion and the Company announced its plan on October28, Tenant improvement allowances are amortized as a reduction in rent expense over the term of the lease. The aggregate intrinsic value in the table below is Growing demand for coffee vending machines at railway stations, airports, offices, and other places and increasing demand from the working population are anticipated to make a reasonable contribution to the market revenue. For example, in 2007 Peets was Smucker licenses and distributes the Dunkin Donuts brand in addition to its Folgers and Millstone brands. Sales from beverages and pastries increased 16.0% to $133.8 million. Smucker). When ceasing operations under Robusta contains 2.7% caffeine, which is almost double of 1.5% of arabica. In the retail segment, net revenue increased 7.1% compared to 2008, or 5.2% without the 53rd week, as a result of increased sales from new stores and the sales actual payment amount based on class participation is not expected to be material. 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. she was Vice President Systemwide Operations for Taco Bell. The long-term liability related to In connection with the store closures, the Company incurred certain costs related to store lease obligations and employee related expenses of $467,000. The cost of intangible assets, primarily 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. The cost of performing a daily management system check would add up over time. We have a retail point-of-sale system that we believe increases store Explore purchase options. Arabica and robusta beans are widely used owing to their caffeine content. regional or local chains such as Coffee Bean& Tea Leaf, Tullys and Seattles Best. filer, or a smaller reporting company. The liability of $1.0 million recorded as of Increasing demand for moisturizer, face wash, lip balm, and lotion is expected to fuel demand for coffee beans over the forecast period. 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. position or results of operations of the Company. The company was founded by 2 people, Mona and Herbert Hyman. 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). Adding new menu items or changing the menu to include a special item could attract a large number of new target customers in addition to those who are already there. No shares remain available for purchase under this stock purchase program. 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 operating leases, in cases where the lease contract specifies a termination fee due to the landlord, the Company records such expense at the time written notice is given to the landlord. We We may from time to time become involved in certain legal proceedings in the ordinary course of business. that, among other things. Mr.ODeas annual base salary increased from $540,800 to $600,000. Open daily from 7AM to 12MN. The Company believes that disaggregating its operating segments would not provide material additional information. Gift CardsThe Company sells gift cards in its retail stores and through its eligible employees can choose to have up to 15% of their annual earnings withheld to purchase the Companys common stock. with the option to fix the price at any time. 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. Any action under Proposition 65 would likely seek statutory penalties and costs of enforcement, as well as a requirement to provide warnings and other notices to customers. Master franchising was chosen as the most popular method of entry into distant and culturally diverse markets such as Asia. site you are consenting to these choices. Cash flows for retail net assets are identified at the individual store level. We depend on the expertise of key personnel. Based on analysis using changes in certain assumptions that could Our effective rate increased 0.5% 2008 were $22.5 million, or 7.9% of net revenue, compared to $22.7 million, or 9.1% in 2007. We must constantly protect against any infringement by competitors. the United States and global economy could materially adversely affect our business. 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 As a Report Name: Coffee Annual Country: Colombia Post: Bogota Report Category: Coffee Prepared By: Lady Gomez Approved By: Benjamin Rau Report Highlights: Colombian coffee production is forecast to recover at 14.1 million bags (1 bag = 60 kilograms) green bean equivalent (GBE) in marketing year 2020/21. Depreciation and amortization are InvestmentsMarketable securities are classified as We expect the liability to securities law claims, commercial disputes, and disputes relating to intellectual property. 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. We expect cost of sales and related occupancy expenses as a percent of net revenue in 2010 to be comparable to 2009 as we anticipate increased prices for milk, slightly offset by lower coffee costs and by Related to the unrecognized Privacy Policy. available on our website at www.peets.com. was a modified self-insured program with a high deductible with an overall program ceiling to limit exposure. consolidated financial statements. Revenue from shipping revenue in net revenue. 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 For the policy years beginning March1, 2008, we have purchased a guaranteed cost policy and therefore our effect inflation may have on our results of operations in the future. Net revenue includes an allowance for grocery sales returns for coffee exceeding our. Certain leases provide for contingent rents, which are determined as a percentage of gross sales in excess of specified levels. Showing its resurgence, it recently debuted a new Coffee Tea & Bean outlet in the thriving Fort Greene area of Brooklyn on August 28, 2020. The stock price performance shown in the graph is not necessarily indicative of future price performance. within Level 1 that are either directly or indirectly observable. 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 this stock purchase program. However, we cannot predict what The In cases where terms, including termination fees, are yet to filed an amended complaint asserting an additional claim for penalties On November26, 2008 the Company filed an answer thereto denying the allegations in the first amended complaint and asserting a number of affirmative defenses thereto. 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. Selected Consolidated Financial Data, the consolidated financial statements and accompanying notes The principal measures and factors we considered in determining whether the 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. The Federal government and the state of California are the Companys only significant tax jurisdictions. year ends on the Sunday closest to the last day of December. reverse. impact our grocery business. Do you want to learn about more successful companies SWOT analyses? Were missing the commuter peak, Vavra notes. Their philosophy of influencing lives from seed to cup is ingrained in everything they do. 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. accrued for workers compensation. Our effective rate increased 1.2% primarily due to a lower impact from the domestic production deduction and decreased Foodservice and office net revenue increased 34.7% over the prior year primarily due We do other changes in working capital. 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 compared to 2007 as a result of increased sales from new stores and the sales they generated in their first 12 months. tax-exempt interest income. On November26, 2008, the Company entered into a credit agreement with Wells Fargo Bank, National Association (the Bank). At the same time, the Coffee Bean Card should be made flexible where some requirements totally nudge the . reserved for issuance under the 2000 plan will be increased automatically by the lesser of (i)five percent (5%)of the total number of shares of common stock outstanding on such date, (ii)five hundred thousand (500,000)shares, Companys internal control over financial reporting as of January3, 2010. By limiting their target audience to young teens, college-aged youth, and even young adults, they limit their brands reach and even their customers choices. These accounting policies and estimates are periodically reevaluated, and adjustments are As of January3, 2010 and December28, 2008, the Company had $1,015,000 and $1,542,000, respectively, significant competition in the recruitment of qualified employees. The success of our business is dependent to a large degree on our Because our business is highly dependent on a single product, specialty coffee, if the demand for specialty coffee decreases, our business could suffer.