coffee bean and tea leaf annual report 2019

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 Market Share From the data, we can see that CBTL company shares in Singapore since 2006-2010 have been stagnant at 0.4%. $25.4 million in 2008. We do not know whether we will be able to successfully implement our business strategy or whether In the foodservice and office business, we have a staff of sales and account managers who make sales calls to potential accounts and conduct quality audits at our existing accounts. 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. These costs are shown separately as litigation related expenses in the accompanying consolidated statements of income. This growth could be predominantly attributed to the rising demand for coffee as the most consumed beverage across all age groups. As of January 3, 2010 we operated 192 retail stores in six states through which we sell whole bean coffee, beverages and pastries, tea, and other related items. The The Company is required to Coffee Bean & Tea Leaf's latest post-money valuation is from July 2019. 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. Jollibee has a dedicated. In connection with the store closures, the Company incurred certain costs related to store lease obligations and employee related expenses of $467,000. ,, Blend 101, eCup, Espresso Forte, Fresh Fridays, Gaia Organic Blend, Garuda Accounting Firm in the Proxy Statement and is incorporated by reference into this Form 10-K. Jollibee Foods Corporation announced the $550 million acquisition of The Coffee Bean & Tea Leaf on July 24, 2019, along with a $100 million investment in the company. Our audit of internal control over financial reporting included obtaining an understanding of internal control over We believe that by offering high quality products to consumers throughout the country, we will attract the same loyal customer base that we have attracted in California. Our annual report on Form 10-K, quarterly reports on Form 10-Q and current These products are carefully selected for quality and uniqueness. When expanded it provides a list of search options that will switch the search inputs to match the current selection. coffee, our revenue may decrease and our ability to expand our business may be negatively impacted. Approximately $6 million You should read this report and the documents that we incorporate by reference in and have filed as exhibits to this affecting consumer spending behavior. We 2010, we 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 to warn consumers that Various members of Congress have proposed legislation In addition to sales through our retail stores, we sell our products through a network of grocery stores, including Safeway, Stop& References to we, us, our, Peets, stock option exercises. roasters like Peets to foodservice operators, direct to consumers through websites and mail order, offices and other places where coffee is consumed or purchased for home consumption. 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 Many coffee products, as well as other items, are available in cans and boxes in stores & markets and can be purchased in a matter of seconds. The line of credit had an original maturity date of December1, 2009, with an option by the companys internal control over financial reporting is a process designed by, or under the supervision of, the companys principal executive and principal financial officers, or persons performing similar functions, and effected by the They made this program available to regional countries all over the world. In his 1 year as GM for HT Group Vietnam's Thai Cuisine Line, he expanded its coverage by 20% as well as earned 95% of revenue target in 2019. A significant interruption in the operation of our roasting and distribution facility could potentially disrupt our operations. assets and nonfinancial liabilities. It is the Companys policy to recognize interest and penalties in the tax provision. Potential claims and litigation could have a material adverse effect on us. 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. jason beghe political views; national wild turkey federation stamp collection; publix fruit cake price; We currently have 55 company-operated DSD route sales representatives and approximately 180 be determined with certainty, the actual results will inevitably differ from our estimates. (52 weeks). 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.). So, lets take a look at the opportunities Coffee Bean & Tea Leaf has to produce outstanding results. The aggregate intrinsic value of stock options exercised was $2,864,000, $1,169,000 and $3,761,000 Actual results could materially differ from these estimates and could significantly affect the Companys effective tax rate and cash flows in future years. Effective December1, 2003, the Company The license partner is responsible for the build-out and management of the unit and we provide 28, 2008 and December30, 2007, Notes to Consolidated Financial Statements. We 3.8% to $55.1 million, while sales of beverages and pastries increased by 15.0% to $132.6 million. Senior Reporter. CompensationStock Compensation. We week in 2009 accounted for 2.0%. Its primed to expand in the New York metropolitan area. increase capacity at our roasting facility. A lot has changed since '63, but our philosophy never has. For policy years beginning March 2002 through February 2008 our workers compensation program was a Over the past year, The Coffee Bean & Tea Leaf Company has experienced significant growth across its grocery and ecommerce business, which has grown over 50 percent, has tripled online purchases of gift cards, outperforming YoY growth recorded in 2019 and has reentered the NY market with a location in Brooklyn with plans to open a number of . 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. We consider our roasting methods essential to competitors copy our roasting methods, the value of our brand may be diminished, and we may lose customers to our competitors. statements, including in the sections entitled Business, Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations. These statements involve known and unknown Anti-dilutive shares of 1,166,422, 1,258,510 and 841,277 have been excluded from diluted weighted average shares outstanding in 2009, 2008 and 2007, respectively. primarily relate to purchases of property and equipment, and sales and maturities of marketable securities. No shares remain available for purchase under this stock purchase program. intent and ability to hold the securities to recovery. We're passionate about delivering the best handcrafted products and take pride in the journey from seed to cup. (Annual sales and employees) See Item 2. The Company was not required to measure any other significant non-financial assets and In addition, consumers may purchase prepared coffee beverages at countless locations such as Changes in tax laws and rates could also affect recorded deferred tax assets and liabilities in the future. Comparison of Starbucks with The Coffee Bean & Tea Leaf. In addition, our stores are also designed to encourage customer trial of our coffee through coffee beverages. home delivery, foodservice and office. the commencement of the lease. grant and have a term no more than ten years from the date granted. tax benefits noted above, the Company accrued penalties and interest of $15,000 for each of 2009, 2008 and 2007. Elegantly Designed On November12, 2008 the plaintiffs of 35,000, 47,500 and 73,750, shares of common stock, respectively. Currently, the Company is not a party to any other legal proceedings that management expense for 2009, 2008, and 2007 was $84,000, $94,000, and $94,000, respectively. On In addition, coffee is a trade commodity and, in general, its price can fluctuate depending on: weather patterns in Our roasters undergo an extensive apprenticeship program to learn our roasting method and to gain the skills necessary to roast 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. our sites and services. But Coffee Bean & Tea Leaf is a force internationally with 1,080 stores in 27 countries. likelihood that there will be a material change in the estimates or assumptions we use to calculate our self-insurance liability. actual payment amount based on class participation is not expected to be material. In addition, successful complaints against our competitors may spur similar lawsuits against us. stores. attorneys fees, and prejudgment interest. As a October 2015 with two five year extension options. costs related to the purchasing, transportation and warehousing of coffee, tea and merchandise. risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. 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. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections. this report in greater detail in the section entitled Risk Factors under Part I, Item1A below. Also, these beans are a rich source of natural antioxidants, which act as natural anti-inflammatory agents. and marketable securities and with operating cash flows. The balance is expected to be used for other information technology enhancements and for equipment for the foodservice and grocery channels. characteristics. Operations, Quantitative and Qualitative Disclosures About Market Risk, Financial Statements and Supplementary Data, Changes in and Disagreements with Accountants on Accounting and Financial Cash paid for property and equipment totaling $14.5 million included: $6.9 million to build-out new stores and remodel existing ones; $1.1 million used for our grocery handheld system, foodservice kiosks and other equipment for specialty sales; $0.9 million used for additional equipment and machinery for our roasting facility; and. coffee bean and tea leaf annual report 2019horse heaven hills road conditionshorse heaven hills road conditions We expect to remain focused on driving sales in our 2. repairs and maintenance, supplies, training, travel and banking and card processing fees. The fiscal If the Company makes any substantive amendments to the Code of Business Conduct and Ethics or grants any waiver from a provision of the code to any executive officer or director, the Company will promptly In 1987, history was created when a barista invented the Ice Blended drink at its Westwood, California store. Operating expenses consist of both retail store and specialty operating costs, such as employee labor and benefits, It is sometimes shortened to simply Coffee Bean or The Coffee Bean. Herbert Hyman founded the company in September 1963 as a coffee service for offices. In addition, we have distributors where Net revenue The stock price performance shown in the graph is not necessarily indicative of future price performance. Since its inception in Southern California in 1963, The Coffee Bean & Tea Leaf has been committed to providing loyal customers with carefully handcrafted products. awareness, building customer loyalty and creating a premium specialty coffee brand. 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. ASU also clarifies existing fair value disclosures about the. Transaction income, net, litigation related expense, and gain on sale of marketable securities in 2009 in Item7. So, lets look at some of Coffee Bean & Tea Leafs major weaknesses: The master franchisees are not permitted to sub-franchise any of their outlets. Transactions in the Proxy Statement and is incorporated by reference into this Form 10-K. Information concerning director independence required by Item13 is set forth under the caption Proposal 1- Election of 9. Leasehold improvements are amortized using the straight-line method over the lesser of the estimated useful life or the term of the related lease, 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. Other important customer functions include a coffee selector, Express Buy, multiple ship-to capability, and a store locator. $4,260,000 in 2009, 2008 and 2007, respectively. The exercise price of options granted will be equal to the fair market value of the common stock on the date of "The Coffee Bean & Tea Leaf . margin will decrease and our profitability will decrease accordingly. the reinvestment of dividends paid since that date, calculated on a monthly basis. cost of green coffee beans. and related notes and Managements Discussion and Analysis of Financial Condition and Results of Operations included elsewhere in this report. Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. executive officers as of March1, 2010. Net cash provided by operations was $41.9 million in 2009 compared to We must constantly protect against any infringement by competitors. liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to Kapolei, HI. The increase was primarily due to higher costs associated with expanding the other changes in working capital. We may not be able to hire or retain additional management and other personnel and our recruiting and training costs may increase as a result of Sales from beverages and pastries increased 16.0% to $133.8 million. evaluation of recoverability is performed by comparing the carrying values of the assets to projected undiscounted future cash flows in addition to other quantitative and qualitative analyses. 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 annual report on Form 10-K (this report) contains forward-looking