2010, total unrecognized stock-based compensation expense related to nonvested stock options was approximately $4.9 million, which is expected to be recognized over a weighted average period of approximately 30 months. The increase from the same 52 weeks was 7.3% as the extra The related accumulated amortization was $980,000 and $896,000 at January3, 2010 and December28, 2008, respectively. Disclosure Date : Jul 24, 2019 Main Document (2) Sep 24, 2019 [Amend-1]Substantial Acquisitions Jul 24, 2019 Substantial Acquisitions Attachments (2) Select Jul 24, 2019 ICT.2018.Audited Financial Statements.pdf Jul 24, 2019 JFC.17C.JFC to Invest US$100M for the Acquisition of the Coffee Bean & Tea Leaf.07242019.pdf While we believe our reserve methodology on these claims is appropriate, should a greater amount of claims Because our business is based primarily in California, a worsening of economic conditions, a decrease in Everyone I work with, especially management, has been supportive and caring. The Company has not paid dividends in the past and does not plan to pay dividends in the near future. Our stores are typically located in urban neighborhoods, suburban shopping centers (usually consisting of grocery, specialty and service Marketing Officer in October 2005. Corporation is the largest competitor in the category. If our fiscal year. his substitute or substitutes, may lawfully do or cause to be done by virtue hereof. Operating expenses consist of both retail store and specialty operating costs, such as employee labor and benefits, On July 24, 2019, Jollibee Foods Corporation purchased The Coffee Bean & Tea Leaf for $350 million. Open daily from 7AM to 12MN. You can read more about your cookie choices at our privacy policyhere. Coffee Sourcing; Tea Sourcing; Press Information; Online Store. Herbert B. Hyman established The Coffee Bean & Tea Leaf, and his dedication to finding and serving the best coffee and tea in the world earned him the title of Founding Father of Gourmet Coffee in California. 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). Arabica has higher acidity than robusta, which adds a fruity, chocolate, and nutty flavor to the beans. including our Chief Executive Officer and our Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules13a-15(e)and 15d-15(e)under the Securities Income taxes. President, Chief Executive Officer and Director(PrincipalExecutiveOfficer), Vice President, Chief Financial Officer andSecretary(PrincipalFinancialand Accounting The specialty coffee market generates most of its sales from coffeehouses that currently number over 25,000 in the United States, according to the National Coffee Association. Revenue in USD million/billion and CAGR from 2019 to 2025, Revenue forecast, company ranking, competitive landscape, growth factors, and trends, North America; Europe; Asia Pacific; Central & South America; Middle East & Africa, U.S.; Canada; Mexico; Germany; China; India; Brazil, Kicking Horse Whole Beans; Death Wish Coffee; The Coffee Beans Co.; La Colombe Torrefaction, INC.; Coffee Beans International, Inc.; illy caff S.p.A.; Luigi Lavazza S.P.A.; La Colombe Torrefaction, INC.; Hawaiian Isles Kona Coffee Company, Ltd.; Peets Coffee & Tea, Inc. Free report customization (equivalent up to 8 analysts working days) with purchase. 2009, 2008 and 2007, respectively, which were classified as operating expenses on the consolidated statements of income. Control of purchasing, roasting, packaging and distribution of our coffee allows us to maintain our commitment to freshness, is cost effective, and enhances our margins and profit potential. to March1, 2008. Kitchen by The Coffee Bean & Tea Leaf (@cbtlph) is now open in Okada Manila! Robusta is expected to be the fastest-growing market with a CAGR of 7.4% during the forecast period. Privacy Policy. site you are consenting to these choices. Occupancy expenses include rent and related expenses such as utilities. -2.00 -0.79%. The complaint alleges that store managers based in California We This growth could be predominantly attributed to the rising demand for coffee as the most consumed beverage across all age groups. 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. This, in turn, is expected to fuel demand for coffee beans over the forecast period. Net cash provided by investing activities was $2.2 million in 2009. The exercise price of options granted will be equal to the fair market value of the common stock on the date of The aggregate intrinsic value in the table below is We use the Black-Scholes-Merton option-pricing model, which requires assumptions requiring a high degree of judgment. Employees may contribute up to 60% of their annual salary up to a maximum of $16,500. Thomas P. Cawley has served as Chief Financial Officer since July 2003. remain available for purchase under this stock purchase program. Our fiscal year is based on a 52 or 53 week year. It is sometimes shortened to simply "Coffee Bean" or "The Coffee Bean.". At our beverage counter, we sellfreshly-brewed coffees and coffee-based beverages topromote customer familiarity, sampling, and sales of whole-bean coffees. control over financial reporting based on our audits. Net revenue for 2008 increased 14.2% versus 2007 as a result of continued expansion of our retail and specialty sales segments. 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 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 . Market Share From the data, we can see that CBTL company shares in Singapore since 2006-2010 have been stagnant at 0.4%. 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. This button displays the currently selected search type. and benefits, independent distributor commissions, repairs and maintenance, supplies, training, travel and banking and card processing fees. health effects. Operations. Senior Reporter. 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 value your investment and offer free customization with every report to fulfil your exact research needs. agencies. 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. We may be the subject of complaints or litigation from customers alleging beverage and food-related illnesses, injuries suffered on the 2905. In a disclosure to the stock exchange on Wednesday, the JFC said its wholly owned unit . Smucker). Our roasting method was first developed by Alfred Peet and further honed by our talented and skilled roasting personnel. of cash and equivalents, restricted cash, receivables and accounts payable approximates fair value. . The global coffee beans market size was valued at USD 27.0 billion and is expected to expand at a CAGR of 6.7% from 2019 to 2025. accrued for workers compensation. covered by this annual report. Analysts say that even as the coffee franchise market flourishes, companies like Coffee Bean are at a disadvantage. A companys internal control over financial reporting includes those policies and procedures that (1)pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the 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. A significant interruption in the operation of our roasting and distribution facility could potentially disrupt our operations. Authentic taste is nurtured from seed to cup. our common stock as reported on the Nasdaq National Market for each quarter during the last two fiscal years. Revenue from The Company recognizes income from gift cards when the likelihood of the gift card. 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. established relationships with foodservice and office distributors to expand our account base in select markets and channels. We purchase high quality Arabica coffee beans from countries around the world, and we use our artisan-roasting technique to bring out the distinctive InventoriesRaw materials consist primarily of green coffee beans. 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. ground to the customers specific requirements. 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. markets for identical assets or liabilities. increase the Companys tax rate if recognized is $123,000. As of January3, 2010 and December28, 2008, the Company had $1,015,000 and $1,542,000, respectively, specific coffees and teas to be delivered at the frequency of their choice. Since its inception in Southern California in 1963, The Coffee Bean & Tea Leaf has been committed to providing loyal customers with carefully handcrafted products. strengthen our core businesses with improved operational efficiency. We expect the commodity market to continue to be volatile as worldwide demand, the strength of the dollar, and weather will Our audits of the financial statements included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the market price. turn our inventory of green coffee beans two to three times per year. We reward our most loyal home delivery customers who maintain regular, NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(Continued). Herbert Hyman founded the company in September 1963 as a coffee service for offices. Finally, in cases where the landlord does not allow the Company to prematurely exit its lease, Property, plant and equipment assets are grouped at the Since we only roast our coffee to order, we do not carry inventory of roasted coffee in In the home delivery channel, we provide points of contact to our customers for coffee ordering and coffee knowledge through a dedicated website and customer service representatives. Depreciation and amortization are There is a study about the consumer behavior between Starbucks and The Coffee Bean & Tea Leaf. was with The Quaker Oats Company and General Foods. In addition, we have distributors where From 1986 to 2000, Mr.Cawley was at PepsiCo/Yum. Previous to 1986, Mr.Cawley They work with my school schedule, which is a blessing when it comes to working part-time. These assumptions include estimating the length of time employees will retain to a recent report from Research and Markets 1, online purchases of gift cards more than doubled in 2020 and outperformed the YOY growth that was recorded in 2019. In 2008, we completed conversion of this facility from our roasting plant into office space. Bakery Cafe. We earned $726,000 in interest income in 2008, compared to $1.4 million in 2007, due to our lower average cash and investment balances and lower interest rates. If customer demand for specialty coffee decreases, our sales would decrease accordingly. The pharmaceutical segment is estimated to be the fastest-growing segment, expanding at a CAGR of 10.3% over the forecast period. reverse. Extensive Marketing Strategy Of IFCI In-Depth Analysis, Extensive Marketing Strategy Of Ashoka Buildcon In-Depth Analysis, Extensive Marketing Strategy Of Mcaffeine In-Depth Analysis, Post Graduation in Digital Marketing (11 months), Online Digital Marketing Course (4 months). In cases where terms, including termination fees, are yet to the reinvestment of dividends paid since that date, calculated on a monthly basis. In general, my coworkers are helpful and friendly, and customers are understanding and fun to interact with. 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. Originally based on the old Bookman Swashes Medium Italic. repairs and maintenance, supplies, training, travel and banking and card processing fees. Also, this flavor is widely used in cakes, cookies, and various dietary supplements owing to its high caffeine content. 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 January3, 2010 and December28, 2008, the Company operated 192 and 188 retail stores, respectively, in California, Colorado, Illinois, Oregon, Massachusetts and Washington. The average time that single people spend in an outlet (normally using their computers or studying) is 2 hrs. Caffeine Essay. Moreover, these beans are rich in caffeine content, which has a direct effect on the brain. The pandemic, has been a disruption in the market, but its allowed us time to pause and restructure and plan for the future, explains Peter Vavra, director of franchise operations at Coffee Bean & Tea Leaf,based in Los Angeles. Under this method, deferred tax assets and International Coffee & Tea's Annual Report & Profile shows critical firmographic facts: What is the company's size? On impact our grocery business. Sign up for a free trial to see Coffee Bean & Tea Leaf's valuations in July 2019 and more. Coffee Bean & Tea Leaf has 4 investors. Unlike roasted coffee beans, green coffee beans are not highly perishable. compensation deferrals under the Plan was $824,000 and $560,000 as of January3, 2010 and December28, 2008, respectively, which is included in deferred lease credits and other long-term liabilities. Information with respect to compliance with Section16(a) of the Exchange Act is set 7 Pages. rate is based on the implied yield available on U.S. Treasury zero-coupon issues with an equivalent term. filed an amended complaint asserting an additional claim for penalties 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. recognized for 2009 would not be material. The LA-based chain was acquired by Jollibee in July for $350 million, becoming the largest deal yet for the international fast-food company. Grocery comprised 20.1%, 18.1% and 16.8% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. Consolidated Financial Statements. Long-lived assets to be disposed of are reported at the lower of their carrying amount or fair value, less estimated costs to sell. Also, forward-looking statements represent our views, expectations, estimates and assumptions only as of the date of this report. Pursuant to the requirements of the International Coffee & Tea's annual revenues are $10-$50 million (see exact revenue data) and has 500-1,000 employees. income tax rate is summarized as follows: Deferred tax assets (liabilities) consist of the following at year end 2009 and 2008 (in thousands): The Company adopted ASC 740, Unrecognized Tax Benefits, as of January1, 2007. Form8-K. Information with respect to continuing directors and nominees of the Company, committees of the Board of Directors and the Companys Code of Business Conduct and Ethics is set forth under the caption small single-unit mom and pop coffee houses and regional or local chains such as Coffee Bean& Tea Leaf, Tullys and Seattles Best. In addition, successful complaints against our competitors may spur similar lawsuits against us. Chile, China, the European Union, Hong Kong, Japan, Paraguay, Singapore, South Korea, Taiwan and Thailand. 243 of 250. 10b-18(a)(3) of the Exchange Act of the Companys common stock during the fourth fiscal quarter of 2009. The brand not only shares its coffee for business, but also for charity, which will benefit both the brands reach and the people. As a Approximately $6 million 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. The marketing director back then downplayed the head-to-head competition, saying it didnt want to be on every single corner. A SWOT analysis is used to assess a companys strengths, weaknesses, opportunities, and threats. 1. Home / / coffee bean and tea leaf annual report 2019. coffee bean and tea leaf annual report 2019 . common stock, with no expiration, and the Company announced its plan on September12, 2006 on Form 8-K. During the years ended January3, 2010 and December28, 2008 the Company purchased and retired 58,759 and 941,241 shares, Master franchising was chosen as the most popular method of entry into distant and culturally diverse markets such as Asia.