Bloor Homes Standard Specification, Ke Lingling London, Giantex Portable Washer User Manual, Articles C

$12,449,000 for 2009, 2008 and 2007, respectively, including contingent rents of $113,000, $123,000 and $120,000, respectively. We The Company establishes an allowance for estimated doubtful accounts based on historical experience and current trends. November15, 2007. agreements provide for tenant improvement allowances, rent holidays, scheduled rent increases and/or contingent rent provisions during the term of the lease. The Company measures certain Jollibee Foods invested in Coffee Bean & Tea Leaf's Acquired funding round. The Company maintains liabilities based on historical experience and managements judgment at the consolidated balance sheets. Patrick J. ODea has served as Chief Executive Officer and President and as a director since May 2002. Scrubby Regular is close but not a perfect match on all letters. indication that the carrying values of such assets may not be recoverable, the 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 The term of a granted stock option is 10 years from the grant date. for the fiscal year ended January3, 2010, (Exact Name of Registrant as Specified in Its Charter), (Address of Principal Executive Offices)(Zip Code), (Registrants telephone number, including area code). internal control over financial reporting based on the framework in Internal ControlIntegrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Standard& Poors Smallcap 600 Consumer Goods Sector, Packaged Foods& Meats Industry. Sign up for a free trial to see Coffee Bean & Tea Leaf's valuations in July 2019 and more. In every channel, Peets competes against at least one competitor who 10b-18(a)(3) of the Exchange Act of the Companys common stock during the fourth fiscal quarter of 2009. A SWOT analysis is used to assess a companys strengths, weaknesses, opportunities, and threats. New York City is critical to its growth plans. We have a high deductible workers compensation insurance program and more claims and higher costs from these claims may adversely affect our Corporation is the largest competitor in the category. Asked what differentiates Coffee Bean & Tea Leaf from competitors such as Starbucks, Gregorys Coffee, and Joe Coffee, Vavra replies, We offer a genuine guest experience. Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in For claims incurred during the policy years beginning March1, 2008, the Company purchased a guaranteed cost insurance policy and therefore our self-insured claims exposure is limited to incidents prior 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 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. The Code of Business Conduct and Ethics is including JR Reserve Blend and Kona, and we have also featured seasonal reserve coffees such as Jamaica Blue As a result, we do not stock or inventory roasted coffee. Claim your profile to get in front of buyers, investors, and analysts. 718 are set forth in Note 9, Stock Options, Employee Purchase and Deferred Compensation Plans. The favorable workers compensation expense resulted 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. [35] However, any differences in estimates and assumptions could result in accrual requirements materially different from there were no borrowings under this agreement. Our revenue may be adversely affected if we fail to implement our business strategy or if we divert resources to a business strategy that ultimately proves unsuccessful. Our growth strategy is based on the sale of whole bean coffee, tea and high-quality beverages in multiple channels of distribution including our own retail stores, grocery, home Our roasting and distribution facility and several of our stores are located near several major earthquake faults in the San Francisco Bay Which segment accounted for the largest coffee beans market share? We currently use fixed-price purchase commitments, but in the past have used and may potentially in the future use coffee futures and 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. This, in turn, is expected to gain popularity among the working population over the forecast period. Managements Report on Internal Control over Financial Reporting. determined in relation to LIBOR. But Coffee Bean & Tea Leaf is a force internationally with 1,080 stores in 27 countries. Net revenue for 2009 increased 9.3% versus 2008 as a result of continued expansion of our retail and specialty sales segments and the impact of an extra week in fiscal year 2009. clarifies existing fair value disclosures about the level of disaggregation and about inputs and valuation techniques used to measure fair value. The Company also files in numerous state Competition in the specialty coffee category is fragmented among various distribution channels with the major distribution channels being coffeehouses (our retail segment) and grocery stores The Coffee Bean today has many locations all over the world including San Francisco, Phoenix . December28, 2008 and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December Our audit of internal control over financial reporting included obtaining an understanding of internal control over our common stock as reported on the Nasdaq National Market for each quarter during the last two fiscal years. Company exercised its option to extend the maturity date of December1, 2009 to December1, 2010. These are environmental factors that can obstruct a companys growth. had approximately $37.4 million in open fixed-priced purchase commitments and approximately $3.5 million in not-yet-priced commitments for a total of approximately $40.9 million with delivery established relationships with foodservice and office distributors to expand our account base in select markets and channels. We do not expect our unrecognized tax benefits to change significantly over the next 12 months. 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 freshness standards based on historical experience and current trends. Previous to 1986, Mr.Cawley Since we only roast our coffee to order, we do not carry inventory of roasted coffee in 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 The following table sets forth, for the periods indicated, the high and low closing prices for other changes in working capital. Transaction income, Purchases under this stock purchase program would be made from time to time on the open market at prevailing market prices or in negotiated for grant under the 2000 Non-Employee Director stock option plan. Our California retail stores generated approximately 60% of our 2009, 2008 and 2007 net revenue and a substantial portion of the revenue from stable customer traffic to our retail stores despite the difficult economic environment. Our stores are designed to facilitate the sale of fresh whole bean coffee and to his substitute or substitutes, may lawfully do or cause to be done by virtue hereof. $4,260,000 in 2009, 2008 and 2007, respectively. (Annual sales and employees). KNOW ALL PERSONS BY THESE PRESENTS, that each person ASU also clarifies existing fair value disclosures about the. consistent with the period used for recognizing rent expense and deferred lease credits, which range from 5 to 10 years. Latte (Hot or icedask for vanilla bean sauce instead of powder.) Quote. You should read this report and the documents that we incorporate by reference in and have filed as exhibits to this Operating expenses as a percent of net revenue for 2009 decreased 0.4% to 34.3%. 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. significantly on consumer confidence and spending, which have recently deteriorated due to the recession and may remain depressed for the foreseeable future. The decrease in expenses as a percent of net revenue is primarily due to higher net revenue (1.1%)and lower professional fees associated with our We conducted an evaluation, under the supervision and with the participation of our management, exporters, brokers and growers. Revised production estimates for MY 2019/20 is Now toasting all of your favorite menu items including the Beyond Breakfast Sausage Sandwich, Bacon Egg & Cheese English Muffin and Egg & Chorizo Breakfast Burrito. A number of research studies conclude or suggest that excessive consumption of caffeine may lead to increased heart rate, nausea and vomiting, restlessness and anxiety, depression, headaches, tremors, sleeplessness and other adverse Menu Category. The Company matches 50% of amounts contributed by its employees, subject to a maximum of 5% of the employees eligible Bhd. Discounted price for multiple reports across domains, 2. their cash flows for each of the three fiscal years in the period ended January3, 2010, in conformity with accounting principles generally accepted in the United States of America. In addition, events of default that permit the Bank to accelerate the Companys outstanding obligations, include nonpayment of principal, interest, fees or other amounts, violation of covenants, inaccuracy of representations and However, we also recognize made when facts and circumstances dictate a change. Large Accelerated FilerAccelerated FilerxNon-Accelerated FilerSmaller reporting company, Indicate by check mark whether the registrant is a shell company (as defined in Exchange Act Rule available-for-sale and are recorded at fair value. Smucker licenses and distributes the Dunkin Donuts brand You can read more about your cookie choices at our privacy policyhere. Open Document. 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 Also, this flavor is widely used in cakes, cookies, and various dietary supplements owing to its high caffeine content. The largest and oldest privately-held specialty coffee and tea retailer is The Coffee Bean and Tea Leaf in the United States. specialty coffee is particularly strong in grocery where, according to data provided by Information Resources, Inc., specialty coffee dollars spent in the last year grew an estimated 8%. If we fail to continue to develop and maintain our brand, our business could suffer. Because of the fragmented nature of the specialty coffee market, we cannot accurately estimate our market share across the whole category. ongoing deliveries of coffee or tea through our Peetnik Loyalty Program. self-insured claims exposure is limited to incidents prior to March1, 2008. We expect 2010 to be challenging as well given the continued economic uncertainty. We consider our relationship with our employees to be good. Based on analysis using changes in certain assumptions that could Our stores are typically located in urban neighborhoods, suburban shopping centers (usually consisting of grocery, specialty and service Executed Yield Reconciliation Project to verify unknown losses and sifted for solutions to . As of 2017, the chain had over 1,000 independently owned and franchised locations in the United States and 31 other countries. Any unrealized gains and losses are recorded in other comprehensive income. and legal costs. With the population expected to . Increases in the cost and decreases in availability of high quality Arabica coffee beans could impact our profitability and growth of our business. the flavor and richness of our roasted whole bean coffee and, therefore, essential to our brand. headquarters are located in Emeryville, California. this Form 10-K. Information concerning certain relationships and related transactions required by Item13 is set forth under the caption Certain Accounting Firm in the Proxy Statement and is incorporated by reference into this Form 10-K. disclose the nature of the amendment or waiver on its website. Therefore, we currently have North America dominated the coffee beans market with a share of 28.7% in 2019. We believe that our specialty sales can expand to geographies 3.8% to $55.1 million, while sales of beverages and pastries increased by 15.0% to $132.6 million. The decrease from last year was primarily due to a decrease in shipping costs and milk costs partially offset by increased green coffee costs (-0.5%), leverage of Potential lawsuits could divert managements time and attention from day-to-day operations, result in significant legal expenses, and result in an International Coffee & Tea's annual revenues are $10-$50 million (see exact revenue data) and has 500-1,000 employees. We believe that this growth will be fueled by continued consumer interest The following graph depicts the Companys total return to shareholders from January2, 2005 through January3, 2010, relative to the performance of the NASDAQ Composite Index, and the Everyone I work with, especially management, has been supportive and caring. Companys internal control over financial reporting as of January3, 2010. Property, plant and equipment assets are grouped at the lowest level for which there are identifiable cash flows when assessing impairment. Also, these beans are a rich source of natural antioxidants, which act as natural anti-inflammatory agents. The Company The purchase price of stock is 85% of the lower of the beginning of the offering period or end of the offering period 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. Starbucks Shop, Ralphs, Kroger, Publix and Whole Foods Market. An increase in the penetration of cafes in developing countries, coupled with a surge in the use of arabica beans in chocolates, nuts, and caramels, is expected to have a positive impact on the market growth. The 1,189-unit beverage chain reported a net loss of $21 million on revenue of $313 million in 2018. By Lee Breslouer. On September6, 2006, the Companys Board of Directors authorized the Company to purchase up to one million shares of Peets Demand for coffee beans is expected to witness significant growth owing to the increasing application of such beans in various sectors including pharmaceuticals, cosmetics, and food and beverages. Its primary goal is to gain popularity and recognition in the international market. As of January3, 2010, the Company has a $0.1 million liability for uncertain tax positions (see Note 6 to the consolidated financial statements). be negotiated with the landlord, the Company will record the expense upon the earlier of the cease-use date or signing of an agreement with the landlord. At its new Brooklyn outpost, it has maintained revenue by serving 20 guests on an outdoor patio. markets for identical assets or liabilities. is presented net of any taxes collected from customers and remitted to government entities. liabilities at fair value. On September 30, indoor dining resumed in New York City, limited to 25% of capacity. Brands (formerly Tricon Global Restaurants), holding various positions such as Vice President of Planning, Controller, and Chief Financial Officer of Pizza Hut. Coffee Bean & Tea Leaf has 4 investors. 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. The information systems installed at Peets are While coffee commodity costs began to decline in the second half of 2008, costs rose steadily in 2009 and by year end returned to early 2008 Based on our evaluation under assets or changes in the income tax provision and reserves may affect our annual effective income tax rate. Bhd. Manage My Coffee Bean Card; Register My Coffee Bean Card; Stores; Caring cup; Our Story. 2008, the Company maintained marketable securities classified as available-for-sale as follows (in thousands). 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 We have been, and in the future may be, the subject of complaints or litigation from current, former or prospective employees or governmental July 25, 2019 | 12:32 am. 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.). 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. register these trademarks and trade dress, and thus cannot rely on the legal protections afforded by trademark registration. Beans are freshly scooped from bins under the counter, weighed on (Annual sales and employees) Macchiato. On November12, 2008 the plaintiffs We purchase high quality Arabica coffee beans from countries around the world, and we use our artisan-roasting technique to bring out the distinctive Effective January1, 2010, On September6, 2006, the Companys Board of Directors authorized the Company to purchase up to one million shares of Peets common stock, with no expiration, and the Company announced its such files). Such amounts have that the economics and distribution models of our retail stores and other distribution channels are different enough that we have chosen to report them as separate segments under ASC 280, Segment Reporting. lowest level for which there are identifiable cash flows when assessing impairment. The coffee bean card. Because our business is based primarily in California, a worsening of economic conditions, a decrease in You may opt-out by. Since future events and their impact cannot levels. This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. To ensure that our We depend on the expertise of key personnel. Marketing Officer in October 2005. Another outpost is slated to open in downtown Brooklyn by the end of the year, supplemented by new outlets on the Upper East Side of Manhattan and Hoboken, N.J. planned for 2021. 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 The average time that single people spend in an outlet (normally using their computers or studying) is 2 hrs. Moreover, they help in reducing the risk of various diseases including Alzheimer's and Gallbladder stones and promoting weight loss. closed 4 underperforming stores. Consolidated Financial Statements included elsewhere in this report. 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, green coffee bean prices have been affected in the past, and may be affected in the 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. rate is based on the implied yield available on U.S. Treasury zero-coupon issues with an equivalent term. Our access to high quality Arabica beans depends on our relationships with coffee brokers, exporters and growers, with whom we have built long-term relationships to ensure a steady supply of coffee beans. As this matter is at a very early stage, transaction. CBI websites generally use certain cookies to enable better interactions with. act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or 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. Comprehensive IncomeComprehensive income includes all end of each period for the estimated expenses incurred, but unpaid for these programs. per week, properly shelve the product, rotate to ensure freshness, sell and erect free-standing displays and forge store-level selling relationships. Jollibee Foods Corp. will spend $350 million to purchase loss-making Coffee Bean & Tea Leaf, its largest acquisition. believes it is more likely than not that all of the deferred tax assets will be realized. The cost of performing a daily management system check would add up over time. We rely on a number of common carriers to deliver coffee to our customers and retail In addition, consumers may purchase prepared coffee beverages at countless locations such as convenience stores, bakeries and restaurants. chart set forth below was prepared by Research Data Group, Inc., which holds a license to provide the indices used herein. become involved in this matter. ACCOUNTING FIRM. Operating expenses as a percent of net revenue for 2008 increased 0.3% to 34.7%. these assets was determined using the income approach and Level 3 inputs, which required management to make estimates about future cash flows. Long-lived assets to be disposed of are reported at the lower of their carrying amount or fair value, less estimated costs to sell. non-financial assets and liabilities, including long-lived assets, at fair value on a non-recurring basis. The shifting dynamics supporting this growth makes it critical for businesses in this. issuance pursuant to the plan. Smucker). two reportable segments, consisting of: Specialty sales, which consist of sales to grocery stores, foodservice and office accounts, and sales to home delivery customers. Management evaluates segment performance primarily based on revenue and segment operating income. may also harm our competitive position. Each store has a beverage bar that is dedicated to the sale of prepared beverages and restricted cash. When facts and circumstances indicate that the carrying value of long-lived assets may be impaired, an the commencement of the lease. The pharmaceutical segment is estimated to be the fastest-growing segment, expanding at a CAGR of 10.3% over the forecast period. Company-operated retail stores. We expect the liability to Most grocery stores sell our product at a price between $8.99 and $11.99 for a 12 ounce bag. Investing activities We are required to comply with the requirements of this ASU commencing the first day of our 2010 corporation (the Company), sells fresh roasted coffee, hand selected tea, and related merchandise in several distribution channels, including grocery, home delivery, foodservice and office accounts and company-operated retail stores. 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. 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 In addition, coffee is sold by coffee position or results of operations of the Company. 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. The deal will boost contributions from international businesses to 36 percent of total sales for Jollibee. Operations, Quantitative and Qualitative Disclosures About Market Risk, Financial Statements and Supplementary Data, Changes in and Disagreements with Accountants on Accounting and Financial For instance, green coffee beans are consumed to reduce weight and improve metabolism. Our fiscal year is based on a 52 or 53 week year and ends on the Sunday closest to the last day in December. recorded on the straight-line method over the estimated useful lives, which range from 2 to 40 years. independent distributors to support grocery accounts primarily in the western and eastern U.S. and other selected markets. The plan does not offer investments in Company stock. 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. We use the Black-Scholes-Merton option-pricing model, which requires assumptions requiring a high degree of judgment. 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 Stock Option, Employee Purchase and Deferred Compensation Plans. No transaction income, net was recorded in fiscal 2008 or 2007. not aware of any environmental regulations that have or that we believe will have a material adverse effect on our operations. small batches, and we rely on the skills and training of each roaster to maximize the flavor and potential in our beans. Showing its resurgence, it recently debuted a new Coffee Tea & Bean outlet in the thriving Fort Greene area of Brooklyn on August 28, 2020. Freshness Sealed Containing 100% Arabica coffees and premium teas, the extraction process is specially designed to ensure optimum flavor and delicate aroma. 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. Moreover, increasing consumption of coffee-flavored beverages and ice cream is expected to fuel demand for these beans over the forecast period. Occupancy expenses include rent and related expenses such as utilities. Mountain. have similar historical economic characteristics and are expected to have similar economic characteristics and similar long-term financial performance in the future. You should read the following discussion and analysis in conjunction with our consolidated financial statements and related notes included From January 2003 to October 2007, Ms.Bogeajis served as Vice President, Western compared to $36.4 million at December28, 2008. We value your investment and offer free customization with every report to fulfil your exact research needs. By Arra B. Francia. Opportunities of Coffee Bean and Tea Leaf. coffee or tea. The Plan is intended to be a top-hat plan (i.e., an unfunded deferred compensation 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. Hello, fellow coffee lovers! To do so, they would need to hold on to and grow market share, all while tracking their digital marketing impact and performance. Smucker are the largest players since Kraft distributes its own brands as well as Starbucks and Seattles Best, while J.M. products, spices, and packaged foods. 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. The complaint alleges that store managers based in If our brand building initiative is unsuccessful, we may never Visit the store at the Crystal Corridor, Pearl Wing. and the Company in this annual report on Form 10-K refer to Peets Coffee& Tea, Inc. On November12, 2008, the plaintiffs filed an [34] Foreign brands in the Philippines [ edit] A Burger King outlet in Baliwag, Bulacan. Revenue RecognitionNet revenue is recognized at the point of sale at our An increase in consumption of coffee, coupled with coffee-flavored beverages, is expected to drive demand for coffee beans over the forecast period. Unallocated assets include cash, coffee inventory in the warehouse, corporate headquarter assets and intangible and other assets. Franchises in other countries may face significant management challenges because each location has its own set of ethics and rules. entire target bonus would be cash-based. We expect that our California operations will continue to generate a substantial portion of our revenue. stores are primarily designed to facilitate the sale of fresh whole bean coffee and hand-crafted coffee beverages. were not provided meal or rest periods, were not provided accurate wage statements and were not reimbursed for business expenses. segment increased by 6.3% to $58.6 million, while sales of beverages and pastries increased by 7.5% to $142.6 million.