but allows for subleasing, the Company estimates the fair value of any sublease income that can be generated from the location and expenses the present value of the excess of remaining lease payments to the landlord over the projected sublease In addition, we have a lease for a second office and warehouse space totaling approximately 8,000 square 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 Lead Trainer & Head of Learning & Development at IIDE, Leads the Learning & Development segment at IIDE. transaction. Sales of whole bean coffee and related products in the retail Statement of The Company recognizes income from gift cards when the likelihood of the gift card. Brands, Inc. company and an operator and franchisor of quick serve restaurants, where she was responsible for more than 1,400 stores and approximately $1.4 billion in system-wide sales. 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. exporters, brokers and growers. Set forth below is information with respect to the names, ages, positions and offices of our The Company also files in numerous state [35] chocolate and sugar confectionery. coffee at Peets and make a long-term commitment to our artisan craft. 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. 28, 2008, and December30, 2007, REPORT OF INDEPENDENT REGISTERED PUBLIC California 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. 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. These and other economic factors could have a material adverse effect on demand for our products and on our financial condition and operating results. 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 If our brand building initiative is unsuccessful, we may never Comprehensive IncomeComprehensive income includes all Who are the key players in coffee beans market? ongoing deliveries of coffee or tea through our Peetnik Loyalty Program. but we also compete with Green Mountain Coffee Roasters, Illy Caff, Millstone (J.M. They made this program available to regional countries all over the world. Even McDonalds has set a strategic price range for children and teenagers, which could put The Coffee Bean & Tea Leaf at a disadvantage. require us to contract with alternative, and possibly more expensive, common carriers. The table below shows selected consolidated financial data for our last five fiscal years. 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. 'Th' comes from Veer's Bookman Swashes Italic AJF or BJF. We expect the commodity market to continue to be volatile as worldwide demand, the strength of the dollar, and weather will Beyond sourcing and roasting, we have developed a reputation for expert coffee blending. In the grocery channel, we sell our coffee in 12 ounce packages at prices established by In addition, consumers may purchase prepared coffee beverages at countless locations such as convenience stores, bakeries and restaurants. beverage brands. future, by the actions of certain organizations and associations that have historically attempted to influence commodity prices of green coffee beans through agreements establishing export quotas or restricting coffee supplies worldwide. Purchases under this stock purchase program would be made from time to time on the open market at prevailing market prices or in negotiated transactions off the market. 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, The Company is required to Certain leases contain renewal options for an additional five to fifteen years, and also provide for contingent rents to be paid equal to a stipulated percentage of sales. Coffee lovers rejoice! to this facility and were effectively at full production capability by May 2007. We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Net cash provided by operations was $41.9 million in 2009 compared to Operating expenses as a percent of net revenue for 2009 decreased 0.4% to 34.3%. outcomes. perishable product, we pursue distribution channels that are consistent with our strict freshness standards. Approximately $2.5 million is expected to be used for equipment and machinery to improve effectiveness and tax-exempt interest income. Scrubby Regular is close but not a perfect match on all letters. Peets.com also features a proprietary tool, Manage Deliveries, that allows customers to manage the timing and delivery of their recurring orders. In cases where terms, including termination fees, are yet to 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 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 The average time that single people spend in an outlet (normally using their computers or studying) is 2 hrs. I always get tempted to order something shopping there. financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The points represent index levels based on the last trading day of the Companys fiscal year. February8, 2010, the Company 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 We have identified the following critical accounting policies: Impairment of long-lived assets. Standard& Poors Smallcap 600 Consumer Goods Sector, Packaged Foods& Meats Industry. Our California retail stores generated approximately 60% of our 2009, 2008 and 2007 net revenue and a substantial portion of the revenue from increased prices in retail and grocery (-0.3%), partially offset by higher green coffee costs (0.8%). The Coffee Bean & Tea Leaf revenue is $500.0M annually. expenses increased in 2009 primarily due to the 31 stores we opened during 2009 and 2008 and the implementation of a new ERP system during the year. Although we take measures to ensure that The Coffee Bean & Tea Leaf recently rolled out its largest advertising campaign ever focusing on traditional and digital platforms while supporting the role of mobile in consumers' everyday activities. jason beghe political views; national wild turkey federation stamp collection; publix fruit cake price; ACCOUNTING FIRM. Some of the factors that could influence the levels of consumer confidence and spending consistent with the period used for recognizing rent expense and deferred lease credits, which range from 5 to 10 years. For grants prior to July3, 2006 expected stock price volatility was estimated using only the historical volatility of the have recently deteriorated due to the recession and may remain depressed for the foreseeable future. We Ranked All of Coffee Bean & Tea Leaf's New Friends-Themed Drinks. Net cash provided by investing activities was $2.2 million in 2009. 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. transactions and dispositions of the assets of the company; (2)provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles India has more than 1,400 registered cafs. The Company has never paid cash dividends on its common stock. control over financial reporting identified in connection with the evaluation required by paragraph (d)of Exchange Act Rules 13a-15(e) or 15d-15(e) that was conducted during the last fiscal quarter that have materially affected, or are Commission (SEC). growth in net revenue in grocery was due to increased share in existing markets and to a lesser extent, to new stores added during the year and the introduction of Godiva coffee in the fourth quarter. The customer service is always good and they try making suggestions and tell me about promotions they have. No purchase commitment. may be able to duplicate them, which could harm our competitive position. that, among other things. It is sometimes shortened to simply "Coffee Bean" or "The Coffee Bean.". Companys stock. There were no changes in the Companys internal Blend, JR Reserve Blend, Major Dickasons Blend, Peetniks, Pride of the They focus on specific niche markets rather than the general public. 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. Our effective rate increased 1.2% primarily due to a lower impact from the domestic production deduction and decreased For the next twelve months, we expect our cash flows from operations and cash and marketable securities to be sufficient for our operating Marketing Officer in October 2005. the calculated accruals. For example, in 2007 Peets was Consolidated Financial Statements included elsewhere in this report. We currently use fixed-price purchase commitments, but in the past have used and may potentially in the future use coffee futures and Amounts drawn under the credit agreement will bear interest (computed on the basis of a reverse. Full name: The Coffee Bean & Tea Leaf (Malaysia) Sdn. offer full-functioning e-commerce at peets.com, integrated with our call center for access to orders placed at both locations. We recognize indirect costs included in inventory as cost of goods sold as the related products are sold. information is included in the Consolidated Financial Statements or Notes thereto. She assumed additional responsibility for the management of the grocery channel in October 2007 and in November 2008 became the Vice President, General Manager Consumer Business (grocery and home delivery), leading Increasing demand for moisturizer, face wash, lip balm, and lotion is expected to fuel demand for coffee beans over the forecast period. Sign up for a free trial to see Coffee Bean & Tea Leaf's valuations in July 2019 and more. During 2009 and 2008, the Company sold The Key Principal: SUNNY SASSOON See more contacts Industry: Coffee shop. Amortization 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 Authentic taste is nurtured from seed to cup. Under Proposition 65, the letter commenced a 60-day period during which the California Attorney General must decide whether to The employee related expenses and lease obligation costs included in the table above are classified in operating expenses and cost of sales and related occupancy expenses, respectively, in the Young people under the legal drinking age are one of the coffee-drinking markets fastest-growing segments. Occupancy expenses include rent and related expenses such as utilities. When Jollibee Foods, the Philippine-based fried chicken chain acquired The Coffee Bean & Tea Leaf for $350 million in July 2019, it gave a jolt to the chain that had been stagnant for some time in the U.S. 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 intent and ability to hold the securities to recovery. Upon order, beans are scooped and The purpose of the Plan is to offer those employees an opportunity to elect to defer the receipt of compensation in order to provide Free business intelligence platform with subscription, 4. The cost of intangible assets, primarily 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. The weaknesses of Coffee Bean and Tea Leaf are elements that must be improved. The company was founded by 2 people, Mona and Herbert Hyman. respectively, under this program at an average price of $20.38 and $21.91, respectively. Our websites, peets.com and peetscoffee.com offer several customer-centered functions. 718 are set forth in Note 9, Stock Options, Employee Purchase and Deferred Compensation Plans. 2. $16,000 in 2008. web site. differentiated position built on our bean selectivity, freshness standards and artisan-roasting style. small batches, and we rely on the skills and training of each roaster to maximize the flavor and potential in our beans. All internal control systems, no matter how well designed, have inherent limitations. Labor conditions in the grocery business could negatively impact our grocery business. We invest excess cash in interest-bearing, U.S. government, agency, municipal and guaranteed student loan obligations. guaranteed student loan obligations. reports on Form 8-K, as well as any amendments or exhibits to those reports, are available free of charge through our website at www.peets.com as soon as reasonably practicable after we file them with, or furnish them to, the Securities and Exchange The Design Thinking approach was applied across the study, over 4 months, to arrive at the solution. InventoriesRaw materials consist primarily of green coffee beans. In addition, green coffee bean prices have been affected in the past, and may be affected in the tophy52. and cash equivalents on the consolidated balance sheets. Awaken your everyday with The Coffee Bean & Tea Leaf. 360-day year, actual days elapsed) either (i)at a fluctuating rate per annum of 1.50% above, for any day, the rate of interest equal to LIBOR then in effect for delivery for a 1 month period, or (ii)at a fixed rate per annum of 1.50% The company first gave rise in the neighbourhood of Brentwood in Los Angeles, September 1963. Currentlyyou cannot check your gift card balance online nor can you upload funds from a gift card to checkout. Any significant increase in shipping costs could lower our profit margins or force us to raise prices, which could cause our revenue and In general, my coworkers are helpful and friendly, and customers are understanding and fun to interact with. This disclosure is provided in lieu of disclosure under Item5.02(e) of Management evaluates segment performance primarily based on revenue and segment operating income. 28, 2008, and December30, 2007, Consolidated Statements of Shareholders Equity for the Years Ended January For policy years beginning March 2002 through February 2008 our workers compensation program was a such files). incurred related to the pending settlement of a wage and hour class action lawsuit that was filed in July 2008 against the Company. December16, 2009, we 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. under the credit agreement are guaranteed by our wholly-owned subsidiary Peets Operating Company and secured by substantially all of our and Peets Operating Companys personal property. At December28, ShareBasic net income per share is computed as net income divided by the weighted average number of common shares outstanding for the period. training and operations oversight. The related asset is classified in cash U.S. Industry Overview & Market Statistics: Complete list of funding rounds and total amounts in the, EBIT (Earnings Before Interest and Taxes), THE COFFEE BEAN REWARDS THE COFFEE BEAN & TEA LEAF, Revenue from previous years (2010 to present), Funding from Venture Capital and Private Equity firms, Additional industries in which the company operates, What is the company's size? In 2009, we completed the development and implementation of a new $7.1 million enterprise resource planning (ERP) system. Sales from beverages and pastries increased 16.0% to $133.8 million. From 1986 to 2000, Mr.Cawley was at PepsiCo/Yum. Peets offers a line of hand selected whole leaf and bagged tea. The Company has California Enterprise Zone credit carryforwards of $487,000 that do not expire. Under the supervision and with the participation of our management, including our Chief Executive Officer and our Chief Financial Officer, as directed by our board of directors, we conducted an evaluation of the effectiveness of our Stock-based compensation. The Coffee Bean & Tea Leaf needed to take on the Challenger mindset in the face of domination by larger brands and the rise of third-wave coffee retailers throughout Southern California. Because of the inherent limitations of internal control over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may not be prevented or Coffee extract provides prolong moisturizing effects and helps to remove suntan. After more than 40 years, The Coffee Bean & Tea Leaf is well known for its quality of the coffee bean and has grown to become one of the worlds top coffee and tea companies. Accrued workers compensation. Operating expenses consist of both retail store and specialty operating costs, such as employee labor and benefits, coffee futures options to manage coffee supply and price risk. been reduced by the Companys estimate of forfeitures of all unvested awards. respects, effective internal control over financial reporting as of January3, 2010, based on the criteria established in Internal Control Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway 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 We expect operating expenses as a percent of net revenue in 2010 to continue to improve. to warn consumers that ready-to-drink coffee contains a substance that is allegedly known to cause cancer. Our roasting facility is subject to At our beverage counter, we sellfreshly-brewed coffees and coffee-based beverages topromote customer familiarity, sampling, and sales of whole-bean coffees. Managements Report on Internal Control over Financial Reporting. and the actual payment amount based on class participation is not. being redeemed by the customer is remote (gift card breakage) and we determine that we do not have a legal obligation to remit the unredeemed gift cards to the relevant jurisdictions. Beginning in fiscal 2009, the Company adopted fair value measurements and disclosure requirements for all nonfinancial were able to meet our targeted net earnings per share by leveraging our infrastructure investments and diligently managing our costs. decrease as the claims for these self-insured policy years are settled. The principal measures and factors we considered in determining whether the Repairs and maintenance costs are expensed as incurred. Property, plant and equipment assets are grouped at the coffee or tea. Because of the fragmented nature of the specialty coffee market, we cannot accurately estimate our market share across the whole category. include, without limitation, continuing conditions in the residential real estate and mortgage markets, access to credit, labor and healthcare costs, increases in fuel and other energy costs, consumer confidence and other macroeconomic factors 9. Income taxes. From 1989 to 2002, she held a breadth of marketing positions with Procter& Gamble in the United States and Western Europe. Overview. The Companys federal income tax returns for 2006 through 2008 are open tax years. We dont have an intimidating environment. During the year and as of January3, 2010, See Note 13, Commitments and Contingencies for further discussion. This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. More than 60% of coffee cultivation is arabica, where Brazil is one of the leading producers in the world. Level 3Unobservable inputs that are supported by little or no On October27, 2008, 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 Coffee Bean and Tea Leaf (CBTL) comes in next in line as the second largest. Opinions expressed by Forbes Contributors are their own. this Form 10-K. Information concerning certain relationships and related transactions required by Item13 is set forth under the caption Certain according to the National Coffee Association. Since its inception in Southern California in 1963, The Coffee Bean & Tea Leaf has been committed to providing loyal customers with carefully handcrafted products. Additionally, we have had to estimate our liability for existing claims whose outcome is uncertain. Since 1979, we have Americano (hot or iced) Cappuccino (hot or iced) Espresso. 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. representatives are regularly trained on Peets product offerings through weekly coffee and tea tastings. 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. 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 Apr 26, 2010 at 16:03. and marketable securities and with operating cash flows. The pharmaceutical segment is estimated to be the fastest-growing segment, expanding at a CAGR of 10.3% over the forecast period. Coffee Beans Market Insights to 2025: A $30+ Billion Industry Opportunity around the globe" The Coffee Bean & Tea Leaf (sometimes shortened to simply "Coffee Bean" or "The Coffee Bean", often abbreviated as CBTL) is an American coffee chain founded in 1963. The liability is determined based on an actuarial assessment of Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. The Coffee Bean & Tea Leaf is ready to join the big leagues. They work with my school schedule, which is a blessing when it comes to working part-time. may also harm our competitive position. On September 30, indoor dining resumed in New York City, limited to 25% of capacity. our sites and services. two reportable segments, consisting of: Specialty sales, which consist of sales to grocery stores, foodservice and office accounts, and sales to home delivery customers. Back in 2013, Coffee Bean and Tea Leaf was thriving in the New York metropolitan area with eight locations in Manhattan including one across from the busy Apple store in the Meatpacking district, two in the Garden State Plaza Mall in Westfield, N.J. and one in Trumbull, Conn. The increase was primarily due to higher costs associated with expanding the Sales from beverages and pastries increased 6.7% to $142.8 million. We roast by hand in These beans are strong and bold in taste and have a chocolaty flavor that lingers pleasantly in the mouth. Intangible and other assetsIntangible and other assets include lease rights, contract acquisition costs, deposits, and The Company has not paid dividends in the past and does not plan to pay dividends in the near future. Any unrealized gains and losses are recorded in other comprehensive income. Every other coffee item has a substitute product, which poses a significant threat to such cafes. offer a limited line of specialty food items, such as jellies, jams and candies. While we believe our reserve methodology on these claims is appropriate, should a greater amount of claims document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. Analysts say that even as the coffee franchise market flourishes, companies like Coffee Bean are at a disadvantage. The LA-based chain was acquired by Jollibee in July for $350 million, becoming the largest deal yet for the international fast-food company. In addition to employment related claims, Peets may be subject to various claims and litigation. Demand for specialty coffee is affected by many factors, including: National, regional and local economic conditions; Perceived or actual health benefits or risks. Our goal is to ensure that customers receive coffee within days of roasting. The Coffee Bean & Tea Leaf Malaysia Promotions New Year Adventures Read more Holiday Specials Read more Leaf with Me Read more Latest News A lot has changed since '63, but our philosophy never has. If members of our management leave without effective replacements, our ability to implement our business strategy could be impaired. borrowing capacity under the credit agreement was $25.0 million as of January3, 2010. However, any differences in estimates and assumptions could result in accrual requirements materially different from If we experience an interruption in these services, we may be unable to ship our coffee in a timely manner. 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 lease for our main office space devoted to general corporate and business channel overhead and a call center for the home delivery business is approximately 60,000 square feet and extends to to 38 new licensed partner locations opened during 2008 and 150 additional We Proudly Brew accounts that serve Peets coffee in their own branded locations. When Jollibee Foods, the Philippine-based fried chicken chain acquired The Coffee Bean & Tea Leaf for $350 million in July 2019, it gave a jolt to the chain that had been stagnant for. Changes in the subjective The Coffee Bean & Tea Leaf. amended complaint asserting an additional claim for penalties. in addition to its Folgers and Millstone brands. 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. Purchase CommitmentsAs of January3, 2010, the Company had outstanding coffee purchase commitments with both fixed prices and prices with a fixed premium over the New York C market as follows (amounts in

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