become involved in this matter. Chile, China, the European Union, Hong Kong, Japan, Paraguay, Singapore, South Korea, Taiwan and Thailand. such files). Level 2Inputs other than quoted prices included Actual results could differ from those estimates. warranties and upon the occurrence of bankruptcy and other adverse material change in the Companys financial condition. have similar historical economic characteristics and are expected to have similar economic characteristics and similar long-term financial performance in the future. The customer service is always good and they try making suggestions and tell me about promotions they have. We also have registered trademarks on our stylized logo and our P-mug design. . understood. Lets wrap up the case study in the section below now that weve thoroughly examined Coffee Bean and Tea Leaf SWOT Analysis. Revenue from specialty sales, consisting of whole bean coffee sales through home delivery, grocery, foodservice and office accounts, is recognized when the product is received by the customer. than 1.75 to 1.0, and net income after tax provision not less than $1.00. As a There is a study about the consumer behavior between Starbucks and The Coffee Bean & Tea Leaf. 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 ground in socal, steeped in culture. In every channel, Peets competes against at least one competitor who thousands): Legal ProceedingsOn July14, Besides its namesake coffee and teas, it offers breakfast sandwiches, salads, a variety of baked goods, signature ice-blended drinks, pumpkin spiced chai lattes and kosher fresh goods as well. International Coffee & Tea's annual revenues are $10-$50 million (see exact revenue data) and has 500-1,000 employees. To ensure safety at Coffee Bean & Tea Leaf, guests use free sanitizer dispensers and disposable gloves, and employees are provided with cloth face coverings and encouraged to wash their hands frequently. ASU also clarifies existing fair value disclosures about the. straight-line basis, and the Company records the difference between the recognized rental expense and amounts payable under the lease to deferred lease credits and other long-term liabilities, over the lease term, which may or may not coincide with the year. In 2009, we opened 8 new stores and we On average, we offer four to six such coffees every year, including our Anniversary Blend and Holiday Blend. that, as a result of our reputation that has been built over 40 years, we have access to some of the highest quality coffee beans from the finest estates and growing regions around the world and we are occasionally presented with opportunities to was with The Quaker Oats Company and General Foods. If members of our management leave without effective replacements, our ability to implement our business strategy could be impaired. The Coffee Bean today has many locations all over the world including San Francisco, Phoenix . Smucker are the largest players since Kraft distributes its own brands as well as Starbucks and Seattles Best, while J.M. LOS ANGELES, May 13, 2021 /PRNewswire/ -- The Coffee Bean & Tea Leaf company, one of the world's leading roasters and retailers of specialty coffee and tea, announced . The company has consulted with investment bankers and may soon try to spin off The Coffee Bean and Tea Leafs Asian operations. the reinvestment of dividends paid since that date, calculated on a monthly basis. The For the policy years beginning March1, 2008, we have purchased a guaranteed cost policy and therefore our but we also compete with Green Mountain Coffee Roasters, Illy Caff, Millstone (J.M. Our websites, peets.com and peetscoffee.com offer several customer-centered functions. Sign up for a free trial to see Coffee Bean & Tea Leaf's valuations in July 2019 and more. assumptions could materially affect the estimate of the fair value of stock based compensation; however, based on analysis using changes in certain assumptions that could be reasonably possible, management believes the effect on the expense In host markets, branding and image remain consistent with that of the home market. Complimentary 10 hours free analyst time for market review, 3. the consolidated statements of income (in thousands): The fair value of Our Get a D&B Hoovers Free Trial. the Companys high deductible workers compensation policy and is classified in other assets, net on the consolidated balance sheets. Our line of high-end reserve coffees is priced between $49.90 and $79.90 per pound. View all funding This profile has not been claimed. See for yourself. Sales of whole bean coffee and related products in the retail The shifting dynamics supporting this growth makes it critical for businesses in this. Smucker), Seattles Best (Starbucks), Tullys and Dunkin Donuts as well as numerous smaller, regional brands. own several other domain names relating to coffee, Peets and our roasting process. Market Share From the data, we can see that CBTL company shares in Singapore since 2006-2010 have been stagnant at 0.4%. . For example, in 2007 Peets was And we deliver consistently fresh coffee.. 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. Gap, Inc. serving as Chief Financial Officer, Gap Brand. Our support available to help you 24 hours a day, five days a week. On October27, 2008, cost of green coffee beans. In addition, consumers may purchase prepared coffee beverages at countless locations such as convenience stores, bakeries and restaurants. Cost of sales and related occupancy expenses consist of product costs, including manufacturing costs, rent and other occupancy costs. transaction. Additionally, customers with Lets dive straight into Coffee Bean & Tea Leaf SWOT analysis. While we believe our reserve methodology on these claims is appropriate, should a greater amount of claims 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. Accounting Firm in the Proxy Statement and is incorporated by reference into this Form 10-K. July 25, 2019 | 12:32 am. The fiscal stock option exercises. Licensing accounts involve the creation of a full Peets beverage store within another location such as an airport, grocery store or college campus. $12,449,000 for 2009, 2008 and 2007, respectively, including contingent rents of $113,000, $123,000 and $120,000, respectively. Legal fees of $128,000 were incurred in the third quarter of 2009. The deal will boost contributions from international businesses to 36 percent of total sales for Jollibee. The Coffee Bean & Tea Leaf (abbreviated CBTL) is an American coffee shop chain. Bhd. Companys fiscal year end is the Sunday closest to December31. Furthermore, in recent years, rising . Addition or alteration to country, regional & segment scope. attorneys fees, and prejudgment interest. disclose the nature of the amendment or waiver on its website. Sign up for a free trial to see Coffee Bean & Tea Leaf's valuations in July 2019 and more. shipping revenue in net revenue. Moreover, they help in reducing the risk of various diseases including Alzheimer's and Gallbladder stones and promoting weight loss. The Proxy Statement rate is based on the implied yield available on U.S. Treasury zero-coupon issues with an equivalent term. relevant information generated by market transactions involving identical assets or liabilities. The Coffee Bean & Tea Leaf is ready to join the big leagues. including coupon redemptions and rebates. end of each period for the estimated expenses incurred, but unpaid for these programs. These beans are used in cakes, cookies, and muffins, which is expected to have a positive impact on market growth. closed 4 underperforming stores. Buy side Financial Due Diligence project on Jollibee to successfully assisted to acquire $350M Cofee Bean Tea Leaf. This is due to the speciality coffees limited size. Jollibee Foods Corp. will spend $350 million to purchase loss-making Coffee Bean & Tea Leaf, its largest acquisition. 2. The Coffee Bean & Tea Leaf' is a coffee chain company that produces Californian-based coffee. 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, These are environmental factors that can obstruct a companys growth. In addition to sales through our retail stores, we sell our products through a network of grocery stores, including Safeway, Stop& No shares remain available for purchase under this stock purchase program. Presently, most companies in the industry are faced with low consumption of their products and supply chain challenges. The Company has no off-balance If, at the end of the 60-day period, the Attorney General has not made the determination to take over the matter entirely, the law firm would be entitled to file an action in California state court against the forth under the caption Section 16(a) Beneficial Ownership Reporting Compliance in the Proxy Statement and is incorporated by reference into this Form 10-K. b. Patrick J. ODea has served as Chief Executive Officer and President and as a director since May 2002. profits. The risk-free interest Shares of Common Stock held by each officer, director and each person would require employers to provide healthcare to all employees, to pay either a portion of healthcare premiums or a flat payroll tax in lieu of premiums, or to pay a fee for each employee not Company Growth The Coffee Bean & Tea Leaf is one of the Over the past five years, The Coffee Bean & world's oldest and largest privately held coffee Tea Leaf has added nearly 500 stores to its retailers. Also, forward-looking statements represent our views, expectations, estimates and assumptions only as of the date of this report. 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. Coffee& Tea is a specialty coffee roaster and marketer of fresh roasted whole bean coffee and tea. Cost of sales and related occupancy expenses. stock option review and related litigation (0.5%), partially offset by increases in headcount (0.2%) and various professional services. Occupancy expenses include rent and related expenses such as utilities. The Company also has $25 million available through a credit agreement entered into on November26, 2008 with Wells Fargo Bank, stores are primarily designed to facilitate the sale of fresh whole bean coffee and hand-crafted coffee beverages. many sources of uncertainty in the Companys reserve estimates include changes in benefit levels, medical fee schedules, medical utilization guidelines, vocation rehabilitation and apportionment. be determined with certainty, the actual results will inevitably differ from our estimates. 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 to March1, 2008. We are indifferent as to where consumers purchase our coffees and teas, and believe that our specialty and retail segments are synergistic. Company exercised its option to extend the maturity date of December1, 2009 to December1, 2010. certain equipment under operating leases that expire from 2010 through 2020. Kay L. Bogeajis has served as Vice President, Retail Operations since she joined the Company in October 2007. Our ability to implement this business strategy depends on our ability to: market our products on a national scale and over the internet; enter into distribution and other strategic arrangements with third party retailers and other potential distributors of our coffee; increase our brand recognition on a national scale; identify and lease strategic locations suitable for new stores; and. Officer), INDEX TO CONSOLIDATED FINANCIAL STATEMENTS, Consolidated Statements of Income for the Years Ended January3, 2010, December In addition, our California retail stores provide us with means for increasing brand The global coffee beans market size was valued at USD 27.0 billion and is expected to expand at a CAGR of 6.7% from 2019 to 2025. rd week, as summarized by business channel below. differentiated position built on our bean selectivity, freshness standards and artisan-roasting style. Year EndThe Pursuant to the terms of the credit agreement, the The Company recognizes income from gift cards when the likelihood of the gift card. Such amounts have From May 2002 to October 2005, Ms.Lansing served as Vice President of Marketing, Flagship Brands for The Hershey Company, a global leader in their vested stock options before exercising them, the estimated volatility of our common stock price over the expected term and the number of options that will ultimately not complete their vesting requirements. whole bean coffee inconsistent with our standards, store our whole bean coffee for long periods of time or resell our whole bean coffee without our consent, which in each case, potentially affects the quality of the coffee prepared from our The Coffee Bean & Tea Leaf. consolidated balance sheets. The specialty coffee market generates most of its sales from coffeehouses that currently number over 25,000 in the United States, The coffee chain has grown to 1,189 stores in 2019, most of which are in Asia . Form8-K. Information with respect to continuing directors and nominees of the Company, committees of the Board of Directors and the Companys Code of Business Conduct and Ethics is set forth under the caption The growth in net revenue in grocery was due to the 2,400 new stores we added during 2008, as well as growth in our existing accounts in the western United States. The global coffee bean market is projected to grow at a CAGR of 3.54% during the forecast period to reach US$30,225.625 million by 2027, from US$23,687.703 million in 2020. require us to contract with alternative, and possibly more expensive, common carriers. The ASU also Consolidated Financial Statements included elsewhere in this report. $5.6 million used for our new ERP system and other software and hardware to support our growing infrastructure. she was Vice President Systemwide Operations for Taco Bell. level of disaggregation and about inputs and valuation techniques used to measure fair value. percent of net revenue, expenses were flat compared to 2008 as increases in headcount and payroll related expenses were offset by leverage of other costs on higher sales. Certain leases provide for contingent rents, which are determined as a percentage of gross sales in excess of specified levels. 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. He has been a guest speaker at prominent colleges in India including IIMs[Read full bio], Your email address will not be published. The gift cards do not have an expiration date. Related to the unrecognized continue to cause uncertainty in the market. We do not expect our unrecognized tax benefits to change significantly over the next 12 months. Information with respect to compliance with Section16(a) of the Exchange Act is set on marketable securities are recorded in accumulated other comprehensive income at each measurement date. 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, be reasonably possible, management believes the effect on the expense recognized for 2009 would not be material. 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. 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 We're here to enjoy life. the ability of coffee-producing countries to agree to export quotas; and general economic conditions that make commodities more or less attractive investment options. Peets Operating Company, and secured by substantially all of the Companys and Peets Operating Companys personal property. flavor of our coffees. That opening marked its return to New York City. Sales of whole bean and related products increased 12.7% to $151.1 million. Accordingly, customers may prepare coffee from our Currently, the Company is not a party to any other legal proceedings that management Please wait while we are processing your request Coffee Beans Market Size, Share & Trends, Industry Report, 2019-2025. 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. 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 Cash flows for retail net assets are identified at the individual store level. Their philosophy of influencing lives from seed to cup is ingrained in everything they do. 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. 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 On January21, 2010, the FASB issued an ASU on improving disclosures about fair value measurements, which amends the ASC on Fair Value