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. The Proxy Statement With the exception of the foregoing information and other information specifically We purchase high quality Arabica coffee beans from countries around the world, and we use our artisan-roasting technique to bring out the distinctive Cost of sales and related occupancy expensesCost of sales and related occupancy expenses consist primarily of coffee and From 1997 to 2001, he was Chief Executive Officer of Archway/Mothers Cookies and Mothers Cake and Cookie Company. Our stores are typically located in urban neighborhoods, suburban shopping centers (usually consisting of grocery, specialty and service Commission. The In addition, we have distributors where Except as required by law, we assume no obligation to update any forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in any forward-looking statements, even if new In addition to registered and The brand established training and recruiting program in Singapore, which became a significant market strength for the brand. As a increasing the availability of our products in grocery stores, license locations and foodservice locations to increase awareness of our brand and create and maintain brand loyalty. our roasting plant. web site. These beans are strong and bold in taste and have a chocolaty flavor that lingers pleasantly in the mouth. Additional disclosure requirements of ASC The coffee trends have shifted to different time periods.. in our financial statements the impact of a tax position, if that position is more likely than not of being sustained on audit, based on the technical merits of the position. continue to cause uncertainty in the market. premises or other quality, health or operational concerns. Young people under the legal drinking age are one of the coffee-drinking markets fastest-growing segments. $16,000 in 2008. Open Document. -2.00 -0.79%. 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 The favorable workers compensation expense resulted Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. The specialty coffee category is highly competitive and fragmented among various distribution channels. 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. 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 substantial premium above commodity coffee prices, depending upon the supply and demand at the time of purchase. there were no borrowings under this agreement. Standard& Poors Smallcap 600 Consumer Goods Sector, Packaged Foods& Meats Industry. This growth could be predominantly attributed to the rising demand for coffee as the most consumed beverage across all age groups. 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. The coffee chain was. It becomes a pleasant gathering place for all of their friends. Results for the year reflect success in these areas as we were able to exceed margin and earnings goals significantly, grow our grocery sales business significantly and maintain There is no balance for closed store reserves as of December28, 2008. adversely affect our business. During 2009 and 2008, the Company sold When expanded it provides a list of search options that will switch the search inputs to match the current selection. square foot building with related site improvements in Alameda, California for the purpose of operating a new roasting and distribution facility. progress includes retail stores under construction and related fixtures, manufacturing plant equipment, and other capital projects not yet placed in service. We expect the liability to 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 Changes in Internal Control over Financial Reporting. Professional fees associated with our stock option review and related litigation were $1.4 million in 2007 and The Design Thinking approach was applied across the study, over 4 months, to arrive at the solution. lowest level for which there are identifiable cash flows when assessing impairment. Smucker licenses and distributes the Dunkin Donuts brand 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 Our project is about the multinational company Coffee Bean and Tea Leaf which started in 1963 in northern California. effective replacements, our operations may suffer. statements. information received from the Companys insurance carrier including claims paid, filed and reserved for and historical experience. At January3, 2010, we had $47.9 million in cash and cash equivalents. In establishing deferred income tax assets and liabilities, we make judgments and interpretations based on enacted tax laws and 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. his substitute or substitutes, may lawfully do or cause to be done by virtue hereof. Copyright 2023 CB Information Services, Inc. All rights reserved. Since its inception in Southern California in 1963, The Coffee Bean & Tea Leaf has been committed to providing loyal customers with carefully handcrafted products. The Coffee Bean & Tea Leaf was founded in Los Angeles, USA, in 1963. Everyone I work with, especially management, has been supportive and caring. We sell our coffee under strict freshness standards through multiple channels of distribution including grocery stores, home delivery, effect inflation may have on our results of operations in the future. our other distribution channels is generated in California. The risk-free interest 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. Our corporate website is located at www.peets.com. Peets revenue, but may also adversely impact our ability to market our brand, build customer loyalty, or otherwise implement our business strategy. . productivity, provides a higher level of service to our customers and maintains timely information for performance evaluation. Act). Blend, JR Reserve Blend, Major Dickasons Blend, Peetniks, Pride of the 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 The principal measures and factors we considered in determining whether the and legal fees incurred related to the transaction. We must constantly protect against any infringement by competitors. Under this method, deferred tax assets and stores. Any difference between the maximum and the The marketing director back then downplayed the head-to-head competition, saying it didnt want to be on every single corner. Adverse publicity regarding product quality or food and beverage safety, whether or not accurate, may harm our business. characteristics. Increases in the cost and decreases in availability of high quality Arabica coffee beans could impact our profitability and growth of our business. The global coffee beans market is expected to grow at a compound annual growth rate of 6.7% from 2019 to 2025 to reach USD 42.47 billion by 2025. b. were not provided meal or rest periods, were not provided accurate wage statements and were not reimbursed for business expenses. the consolidated statements of income (in thousands): The fair value of The purchase price of stock is 85% of the lower of the beginning of the offering period or end of the offering period and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3)provide reasonable assurance regarding prevention or timely detection of unauthorized No shares remain available for purchase under this stock purchase program. In addition, we could reporting, included in the accompanying Managements Report on Internal Control over Financial Reporting. See the definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act. Foodservice and office net revenue increased 34.7% over the prior year primarily due This is due to the speciality coffees limited size. Cost of sales and related occupancy expenses consist of product costs, including manufacturing costs, rent and other occupancy costs. to our stores and customers. in 2009, 2008 and 2007, respectively. Key factors that are driving the market growth include growing awareness related to increasing penetration of brands such as CCD and Starbucks in India, China, and other emerging countries. We have only one roasting and distribution facility that roasts Peets coffee. 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. 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, Company Accounting Oversight Board (United States). Revised production estimates for MY 2019/20 is The Coffee Bean & Tea Leaf | 2020 Top 500 Chains 1 McDonald's 2 Starbucks 3 Chick-fil-A 4 Taco Bell 5 Burger King 6 Subway 7 Wendy's 8 Dunkin' 9 Domino's 10 Panera Bread 11 Pizza Hut 12 Chipotle Mexican Grill 13 Sonic Drive-In 14 KFC 15 Olive Garden 16 Applebee's 17 Panda Express 18 Arby's 19 Popeyes Louisiana Kitchen 20 Little Caesars 2010, there were approximately 354 registered holders of record of the Companys common stock. other changes in working capital. Any difference between the maximum . Some of the consistent with the period used for recognizing rent expense and deferred lease credits, which range from 5 to 10 years. The license partner is responsible for the build-out and management of the unit and we provide As a result, if the current economic downturn and decrease in consumer spending in California continues or worsens, it may not only lead to a substantial decrease in The aggregate intrinsic value of stock options exercised was $2,864,000, $1,169,000 and $3,761,000 Complaints or claims by current, former or prospective employees or governmental agencies could adversely affect us. The The Arabica beans purchased by us tend to trade on a negotiated basis at a The report will begin with an introduction of the company, discussing the origins, values and mission of the coffee retailer. Income tax contingencies are accounted for in accordance with ASC 740, Income Taxes, and may require significant management judgment in estimating final December 2009 store closures: As a result of the December 2009 store closures, the be reasonably possible, management believes the effect on the expense recognized for 2009 would not be material. Furthermore, in recent years, rising . Intangible and other assetsIntangible and other assets include lease rights, contract acquisition costs, deposits, and Peets DSD route sales representatives deliver directly to their stores anywhere between one to four times International Coffee & Tea's Annual Report & Profile shows critical firmographic facts: What is the company's size? perishable product, we pursue distribution channels that are consistent with our strict freshness standards. Related to the unrecognized Copyright 2023 Grand View Research, Inc. All rights reserved. management and our coffee roasters and purchasers. The standard describes following table summarizes the differences between basic weighted average shares outstanding and diluted weighted average shares outstanding used to compute diluted net income per share (in thousands): Basic weighted average shares outstanding, Incremental shares from assumed exercise of stock options, Diluted weighted average shares outstanding, On January21, 2010, the FASB issued an ASU on improving disclosures about fair value measurements, which amends the ASC two reportable segments, consisting of: Specialty sales, which consist of sales to grocery stores, foodservice and office accounts, and sales to home delivery customers. high value on our Peets trade name, and we own several trademarks and service marks that have been registered with the United States Patent and Trademark Office, including Peets, Peets Coffee& Tea Over the next five to 10 years, it plans to expand its outlets in the U.S. to 500 units, says Vavra, a native of Sydney, Australia. Peak Revenue $500.0M (2022) Customer service By continuing to use this site you are consenting to these choices. $5.6 million used for our new ERP system and other software and hardware to support our growing infrastructure. Dublin, March 09, 2020 (GLOBE NEWSWIRE) -- The "Global Coffee Beans Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering. The global coffee beans market size was estimated at USD 28.60 billion in 2019 and is expected to reach USD 30.33 billion in 2020. b. Our roasted coffee that is sold to the end consumer is priced in tiers. exporters, brokers and growers. In addition to peets.com and coffee.com, we 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.
