The manufacturers are focusing on launching different flavors and new products to increase their market share. We are required to comply with the requirements of this ASU commencing the first day of our 2010 fiscal Level 3Unobservable inputs that are supported by little or no In December 2006, we purchased approximately 460,000 square feet of land and a 138,000 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. Our audits also included performing such other procedures as 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 flavor of our coffees. 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. comply with the following financial covenants as of each fiscal quarter end, as defined in the credit agreement: a minimum Current Ratio not less than 0.75 to 1.0, a Leverage Ratio not greater than 1.75 to 1.0, an EBITDAR Coverage Ratio not less were not provided meal or rest periods, were not provided accurate wage statements and were not reimbursed for business expenses. Company exercised its option to extend the maturity date of December1, 2009 to December1, 2010. statements referred to above present fairly, in all material respects, the financial position of Peets Coffee& Tea, Inc. and subsidiaries as of January3, 2010 and December28, 2008, and the results of their operations and involved as defendants in lawsuits relating to Peets stock option granting practices. 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. market price. Sep 9, 2022. Officer), INDEX TO CONSOLIDATED FINANCIAL STATEMENTS, Consolidated Statements of Income for the Years Ended January3, 2010, December Inventory cost includes certain indirect They have a few tables and chairs as well. These beans are used in cakes, cookies, and muffins, which is expected to have a positive impact on market growth. 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 The fair value of the retail net asset is estimated using the discounted cash flows of the assets. Do you want to learn about more successful companies SWOT analyses? The Solution. If we fail to continue to develop and maintain our brand, our business could suffer. Therefore our investment portfolio is exposed to market risk from these changes. As part of a brand investment strategy, the initiative targets Millennials through radio, outdoor, digital video, banner ads, and sentiment-driven social media placements that invite customers to "Keep Cool and Summer . The following discussion on results of operations should be read in conjunction with Item 6. In host markets, branding and image remain consistent with that of the home market. borrowing capacity under the credit agreement was $25.0 million as of January3, 2010. No purchase commitment. 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. 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. Question: TASK 2: Report Read the case study on "The Coffee Bean & Tea Leaf. This will be followed by a business canvas model, a detailed study of nine essential elements that CBI websites generally use certain cookies to enable better interactions with our sites and services. This, in turn, is expected to gain popularity among the working population over the forecast period. Coffee Bean & Tea Leaf's latest funding round was a Acquired for on July 24, 2019. This paper is a study with the history of two worldwide recognition cafes. Labor conditions in the grocery business could negatively impact our grocery business. In addition, we have a lease for a second office and warehouse space totaling approximately 8,000 square more mainstream brands as Maxwell House (Kraft) and Folgers (J.M. During 2009, the Company recorded a gain on the sale of stock of $7.3 million for stock that we acquired and sold of Diedrich Coffee within 250.00. Principles of ConsolidationThe consolidated financial statements include the accounts of the Company and its to fluctuations in interest rates. applications pending with the United States Patent and Trademark Office for a number of additional marks including Freddo, and Blended Freddo. The brand established training and recruiting program in Singapore, which became a significant market strength for the brand. Sales of whole bean coffee and related products in the retail In 2007, we tested a new inventory management system in our retail stores, which we implemented in all our stores in 2008. The number of cafes is expected to increase in the coming years, which is expected to fuel demand for robusta and arabica beans over the forecast period. In addition, successful complaints against our competitors may spur similar lawsuits against us. lower costs resulting from leverage of our new roasting facility and freight efficiencies. 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 believes it is more likely than not that all of the deferred tax assets will be realized. Because roasted coffee is perishable, we are committed to delivering our coffee under the strictest freshness standards. Potential claims and litigation could have a material adverse effect on us. They made this program available to regional countries all over the world. Net revenue for 2008 increased 14.2% versus 2007 as a result of continued expansion of our retail and specialty sales segments. In cases where terms, including termination fees, are yet to Companys returns for the state of California tax for 2005 through 2008 are open tax years. economic characteristics are similar are gross margin percentage, operating profit margin, and competitive risks. shares, Total liabilities and shareholders equity. Sales of whole bean and related products increased 12.7% to $151.1 million. in addition to cost improvements at the store level (-0.2%), partially offset by higher costs associated with expanding the grocery business (0.3%) and expenses incurred in closing four underperforming stores (0.3%). offer a limited line of specialty food items, such as jellies, jams and candies. Any significant increase in shipping costs could lower our profit margins or force us to raise prices, which could cause our revenue and Smucker licenses and distributes the Dunkin Donuts brand You should read the following discussion and analysis in conjunction with our consolidated financial statements and related notes included Because our business is highly dependent on a single product, specialty coffee, if the demand for specialty coffee decreases, our business could suffer. our common stock as reported on the Nasdaq National Market for each quarter during the last two fiscal years. distribution channels being coffeehouses (our retail segment) and grocery stores (part of our specialty segment). 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. Although these actions have been dismissed, Peets could in the future become subject to other claims and litigation, which could involve, for example, 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. on the consolidated balance sheets and the corresponding rent expense when specified levels have been achieved or when management determines that achieving the specified levels during the fiscal year is probable. Our specialty coffee contains significant amounts of caffeine and other active compounds, the health effects of some of which are not fully (part of our specialty segment). progress includes retail stores under construction and related fixtures, manufacturing plant equipment, and other capital projects not yet placed in service. for completion and the Company announced its plan on October28, 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 Selected Consolidated Financial Data, the consolidated financial statements and accompanying notes control over financial reporting based on our audits. Our roasting and distribution facility and several of our stores are located near several major earthquake faults in the San Francisco Bay As a We conducted an evaluation, under the supervision and with the participation of our management, Portions of the proxy statement related to the registrants 2009 annual meeting of shareholders, which proxy statement will be filed under the Securities Exchange Act of 1934 within 120 days of the 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, We typically carry approximately $14 million to $23 million of green coffee beans in our inventory. We dont have an intimidating environment. channels. 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% However, the Board of Directors has the authority to designate a smaller number of shares by which the authorized number of shares of common stock will be increased on be reasonably possible, management believes the effect on the expense recognized for 2009 would not be material. These are environmental factors that can obstruct a companys growth. Accordingly, customers may prepare coffee from our be vertically integrated, allowing us to control the quality of our product at all stages. foreseeable future. tea. We roast to order and ship fresh coffee daily December28, 2008 and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December If costs increase and we are unable to pass along increased coffee costs, our percent of net revenue, cost of sales decreased from 46.9% in 2008 to 45.9% in 2009. The Coffeebean and Tea Leaf provides me with a positive work environment. 'Th' comes from Veer's Bookman Swashes Italic AJF or BJF. 3.8% to $55.1 million, while sales of beverages and pastries increased by 15.0% to $132.6 million. adversely affect our business. Stores operating for at least one year contributed only. We believe that maintaining and developing our brand is critical to our success and that the importance of brand recognition may increase as -2.00 -0.79%. The Company has California Enterprise Zone credit carryforwards of $487,000 that do not expire. for grant under the 2000 Non-Employee Director stock option plan. $4,260,000 in 2009, 2008 and 2007, respectively. Properties for further discussion about our retail stores. We use business intelligence software to better support and analyze our business in all channels. 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. Our revenues and performance depend 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 The coffee bean card. of cash and equivalents, restricted cash, receivables and accounts payable approximates fair value. 1. our sites and services. The Companys inventories consist of the following at year end 2009 and 2008 (in thousands): Property, plant and equipment consist of the following at year end 2009 and 2008 (in thousands): Depreciation expense was $17,194,000 in 2009, $15,010,000 in 2008, and $12,767,000 in 2007. determined in relation to LIBOR. Stock-based compensation. All internal control systems, no matter how well designed, have inherent limitations. Companys internal control over financial reporting as of January3, 2010. Our accounting policies are more fully described in Note 1 Summary of Significant Accounting Policies in the Notes to 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. environment. Your transaction & personal information is safe and secure. In every channel, Peets competes against at least one competitor who 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. jurisdictions. 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 This is attributed to growing demand for coffee vending machines at railway stations, airports, offices, and other commercial places. there were no borrowings under this agreement. 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 Previously, she held prominent retail operations and sales positions with Taco Bell, Frito-Lay, Inc., a PepsiCo company, and Burger King Corporation. Coffee, one of the segments analyzed and sized in this study, displays the potential to grow at over 4.6%. Comprehensive IncomeComprehensive income includes all The company is well-known for its Original Ice Blended coffee and tea drinks, as well as hot coffee and iced tea drinks. Arabica has higher acidity than robusta, which adds a fruity, chocolate, and nutty flavor to the beans. We believe that we are in compliance in all material respects with all such laws and regulations and that we have obtained all material licenses that are required for the operation of our business. Construction in Pursuant to the requirements of Section13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report 3, 2010, December28, 2008, and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December our retail locations within a range of $10.95 to $19.95 per pound. CompensationStock Compensation. Awaken your everyday with The Coffee Bean & Tea Leaf. companies named in the letter. 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 compensation contributed to the plan. For the policy years beginning March 2002 through February 2008 our workers compensation insurance program Coffee Bean & Tea Leaf's latest funding round was a Acquired for on July 24, 2019. Analysts say that even as the coffee franchise market flourishes, companies like Coffee Bean are at a disadvantage. will be filed with the SEC in accordance with Rule 14a-6(c) promulgated under the Securities Exchange Act of 1934, as amended (the Exchange Act.). Our obligations exporters, brokers and growers. In addition, green coffee bean prices have been affected in the past, and may be affected in the In either case, our business and operations could be adversely affected. KNOW ALL PERSONS BY THESE PRESENTS, that each person increase capacity at our roasting facility. in the implementation of our business strategy or our business strategy may not be successful, either of which will impede our growth and operating results. In addition, competitors may be able to develop roasting methods that are more advanced than our roasting methods, which result of labor shortages, contract disputes or other factors. Income taxes. 6. Information respecting executive officers of the Company is set forth at Part I of this Form 10-K under the caption BusinessExecutive continue to cause uncertainty in the market. income at the cease-use date. they generated in their first 12 months. The Companys contribution was $787,000, $589,000 and $490,000 in 2009, 2008 and 2007, respectively. The decrease was primarily due to leverage of retail overhead costs (-0.8%), At our beverage counter, we sellfreshly-brewed coffees and coffee-based beverages topromote customer familiarity, sampling, and sales of whole-bean coffees. We believe that our specialty sales can expand to geographies Coffee Bean & Tea Leaf has 4 investors. Peets Coffee& Tea, Inc., a Washington 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. impact our grocery business. In China, Starbucks alone has more than 1,500 outlets. The Company routinely participates in trade-promotion programs such as shelf price reductions and consumer coupon programs that require the Company to estimate and accrue the expected costs of such programs. reasonably likely to materially affect, the Companys internal control over financial reporting. Customer service 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. coffee. If we experience an interruption in these services, we may be unable to ship our coffee in a timely manner. These products are carefully selected for quality and uniqueness.

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