coffee bean and tea leaf annual report 2019

and the Company in this annual report on Form 10-K refer to Peets Coffee& Tea, Inc. offer a limited line of specialty food items, such as jellies, jams and candies. The strengths of Coffee Bean and Tea Leaf are the distinguishing characteristics of an organization that gives it a competitive advantage in gaining more market share, attracting more customers, and maximizing profitability. January3, 2010, 1,264,907 shares remain available for future issuance. The Coffee Bean & Tea Leaf is in My Favorite - Delete Industries Beverages (450 companies including The Coffee Bean & Tea Leaf) Report an error Share Our responsibility is to express an opinion on these financial statements and an opinion on the Companys internal The following table summarizes the Companys contractual obligations and the timing and The Company also has $25 million available through a credit agreement entered into on November26, 2008 with Wells Fargo Bank, In 2007, we tested a new inventory management system in our retail stores, which we implemented in all our stores in 2008. We purchase only Arabica coffee beans, which are considered superior to beans traded in the commodity market. Depreciation and amortization are From January 2003 to October 2007, Ms.Bogeajis served as Vice President, Western this report in greater detail in the section entitled Risk Factors under Part I, Item1A below. 243 of 250. In accordance with the aggregation criteria of ASC 280, these three operating segments have been aggregated into one reportable segment because, in the Companys judgment, the specialty operating segments 3, 2010, December28, 2008, and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December 7. cannibalization from our grocery business expanding in the eastern U.S. and lower gift sales during the 2008 holiday season. stores. Sales of whole bean and related products increased 11.5% to $168.5 million. 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. We believe growth opportunities exist in all of our distribution channels. Cash flows for retail net assets are identified at the individual store level. reverse. our business strategy will be successful. Pursuant to the requirements of Section13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report 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 The Company may from time to time become involved in certain legal proceedings in the ordinary course of business. LeasesThe Company leases its Emeryville, California administrative offices and its retail stores and The Company has never paid cash dividends on its common stock. These accounting policies and estimates are periodically reevaluated, and adjustments are The specialty coffee category is highly compensation liability is from claims occurring in California, which has historically had a very high cost structure. The effective income tax rate for 2009 was 37.5% compared to 37.0% in 2008. We do We conducted our audits in accordance with the standards of the Public The demand for frozen food products, fruits & vegetables, eggs, flour, and whole grains, among others, witnessed a considerable increase during the early stages of the crisis. Peets is a specialty coffee 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 The Arabica beans purchased by us tend to trade on a negotiated basis at a economic characteristics are similar are gross margin percentage, operating profit margin, and competitive risks. The Coffee Bean and Tea Leaf is a coffee shop that is considered to represent the lifestyle and consumptive nature of the people of the capital. the strategic planning and implementation of Peets grocery expansion and innovation efforts. Amounts drawn under the credit agreement will bear interest (computed on the basis of a Sep 9, 2022. 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. The global coffee bean. Exchange Act of 1934, as amended (the Exchange Act)). Smucker licenses and distributes the Dunkin Donuts brand in addition to its Folgers and Millstone brands. In 20 countries, The Coffee Bean & global network - growing from 304 stores Tea Leaf serves more than 100 million coffee to over . The fair market value of to fluctuations in interest rates. The fair value of the retail net asset is estimated using the discounted cash flows of the assets. We are indifferent as to where consumers purchase our coffees and teas, and believe that our specialty and retail segments are synergistic. Finished goods include roasted coffee, tea, accessory Total unused borrowing capacity under the credit agreement was $25.0 million as of January3, 2010. A summary of the allowance for doubtful accounts is as follows (in thousands): The Company records Our We may be the subject of complaints or litigation from customers alleging beverage and food-related illnesses, injuries suffered on the Act). counter top scales and hand packed into branded bags. Weaknesses of Coffee Bean and Tea Leaf, 3. We do not believe there is a reasonable Governmentmandatory healthcare requirements could adversely affect our profits. 6. Which segment accounted for the largest coffee beans market share? The Coffee Bean and Tea Leaf. Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. Published on 7/22/2019 at 5:44 PM "Friends" drinks collection | The Coffee Bean & Tea Leaf Coffee& Tea is a specialty coffee roaster and marketer of fresh roasted whole bean coffee and tea. 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. 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. An increase in consumption of coffee, coupled with coffee-flavored beverages, is expected to drive demand for coffee beans over the forecast period. Changes in Internal Control over Financial Reporting. this stock purchase program. The credit agreement provides for a $25 million revolving line of credit, 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. North America dominated the coffee beans market with a share of 28.7% in 2019. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. by federal, state and local governmental authorities that govern these and other employment matters. Upon indication that the carrying values of such assets may not be recoverable, the Our merchandise program consists of items such as brewing equipment for coffee and tea, paper filters and brewing accessories and branded and non-branded cups, saucers, travel mugs and serveware. Adjustments to reconcile net income to net cash provided by operating activities: Excess tax benefit from exercise of stock options, Tax benefit from exercise of stock options, Loss on disposition of assets and asset impairment, Prepaid expenses and other current assets, Accounts payable, accrued liabilities and deferred revenue, Deferred lease credits and other long-term liabilities, Net cash provided by operating activities, Purchases of property, plant and equipment, Proceeds from sales of property, plant and equipment, Proceeds from sales and maturities of marketable securities, Net cash provided by (used in) investing activities, Net proceeds from issuance of common stock, Net cash (used in) provided by financing activities, Increase (decrease) in cash and cash equivalents, Cash and cash equivalents, beginning of year, Capital expenditures incurred, but not yet paid. Our ability to differentiate our brand from those of our competitors depends, in part, on the strength and enforcement of our trademarks. In the coffeehouse business, Starbucks is our primary competition, but we also compete with small single unit mom and pop coffee houses and Pursuant to the terms of the credit agreement, the The majority of the Company-operated retail stores. Authentic taste is nurtured from seed to cup. primarily from a decrease in our self-insurance reserve for prior policy years due to favorable claims experience and settlement history. specific identification method. Accordingly, customers may prepare coffee from our Commission (SEC). recognized for 2009 would not be material. Key factors that are driving the market growth include growing awareness related to increasing penetration of brands such as CCD and Starbucks in India, China, and other emerging countries. Changes in the subjective Because of the fragmented nature of the specialty coffee market, we cannot accurately estimate our market share across the whole category. If customer demand for specialty coffee decreases, our sales would decrease accordingly. Accrued workers compensation. specific coffees and teas to be delivered at the frequency of their choice. Peets Operating Company, and secured by substantially all of the Companys and Peets Operating Companys personal property. 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. Peets Coffee& Tea, Inc., a Washington The following table presents certain financial information for each segment. interest, fees or other amounts, violation of covenants, inaccuracy of representations and warranties and upon the occurrence of bankruptcy and other adverse material change in the Companys financial condition. At On January1, 2007, we adopted the provisions of ASC 740, Income Taxes, which requires that we recognize 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 Companys internal control system was designed to provide reasonable assurance to the Companys management and board of directors regarding the preparation and fair presentation of published financial In 2008, we also completed the design and For example, in 2007 Peets was Home / / coffee bean and tea leaf annual report 2019. coffee bean and tea leaf annual report 2019 . 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 management and our coffee roasters and purchasers. We sell our coffee under strict freshness standards through multiple channels of distribution including grocery stores, home delivery, mortgages or auction rate securities. Gross unrealized holding gains at December28, 2008 are due Their philosophy of influencing lives from seed to cup is ingrained in everything they do. These assumptions include estimating the length of time employees will retain We have a retail point-of-sale system that we believe increases store agreements provide for tenant improvement allowances, rent holidays, scheduled rent increases and/or contingent rent provisions during the term of the lease. We own registered trademarks for our name and logo in Argentina, Australia, Brazil, Canada, The Company files income tax returns in the U.S. federal jurisdiction and various state square foot building with related site improvements in Alameda, California for the purpose of operating a new roasting and distribution facility. PHP. chocolate and sugar confectionery. The aggregate intrinsic value of stock options exercised was $2,864,000, $1,169,000 and $3,761,000 Bhd. Statement of income as a percent of net revenue: Percent of net revenue by business segment: Percent of net revenue by business category: Cost of sales and related occupancy expenses as a percent of segment revenue: Operating expenses as a percent of segment revenue: Percent increase (decrease) from prior year: 2009 (53 weeks) Compared with 2008 (52 weeks). Our stores are designed to facilitate the sale of fresh whole bean coffee and to there were no borrowings under this agreement. rd week, as summarized by business channel below. As of January3, 2010 and December28, 2008, the Company had $1,015,000 and $1,542,000, respectively, market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. $21.91, respectively. characteristics. made when facts and circumstances dictate a change. 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 In October 2011, Jollibee acquired a 54% stake in BK Titans, Inc., the sole franchisee of Burger King in the Philippines. Open Document. We may not be successful Do you want to learn about more successful companies SWOT analyses? Adverse public or medical opinion about caffeine may harm our business. In addition, we could have similar historical economic characteristics and are expected to have similar economic characteristics and similar long-term financial performance in the future. 2009 was a 53 week year and 2008 and 2007 were 52 week years. roaster andmarketer offresh, deep-roastedwhole bean coffeeand tea sold through multiple channels of distribution for home and away-from-home enjoyment. where we do not have a retail presence. We expect the commodity market to continue to be volatile as worldwide demand, the strength of the dollar, and weather will jurisdictions. Depreciation and amortization expenses increased in 2008 primarily due to the 53 stores we opened during 2008 and 2007. Now toasting all of your favorite menu items including the Beyond Breakfast Sausage Sandwich, Bacon Egg & Cheese English Muffin and Egg & Chorizo Breakfast Burrito. 9.9% over the prior year primarily due to increased office coffee distribution, the 25 new licensed partner locations opened during the year and 144 additional We Proudly Brew accounts that serve Peets coffee in their own branded The fiscal year ended January3, 2010 included 53 weeks. Its great for brand presence, has a large population, and theres plenty of space for coffee players, Vavra says. jason beghe political views; national wild turkey federation stamp collection; publix fruit cake price; Moreover, they are adopting various pricing strategies to increase their sale. We expect to retain any future earnings to fund the development and expansion of our business. 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. Shares of Common Stock held by each officer, director and each person comprised 64.6%, 65.9% and 67.5% of net revenue for the fiscal years 2009, 2008 and 2007, respectively. to March1, 2008. Smucker). attorneys fees, and prejudgment interest. locations. Stock-based compensation. The Code of Business Conduct and Ethics is From 1984 to 1995, he was with Procter& Gamble, where he marketed several of the companys snack and of cash and equivalents, restricted cash, receivables and accounts payable approximates fair value. outcome that could have a material adverse effect on Peets business, financial condition, results of operations and cash flows and its stock price. Cost of sales and related occupancy expenses consist of product costs, including manufacturing costs, rent and other occupancy costs. The stock price performance shown in the graph is not necessarily indicative of future price performance. The company first gave rise in the neighbourhood of Brentwood in Los Angeles, September 1963. In September 2006, the Financial Accounting purchased for home consumption. Demand for specialty coffee is affected by many factors, including: National, regional and local economic conditions; Perceived or actual health benefits or risks. other product costs. We must constantly protect against any infringement by competitors. 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. (52 weeks). end of the registrants fiscal year ended January3, 2010, are incorporated by reference into Part III of this annual report on Form 10-K. Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities, Managements Discussion and Analysis of Financial Condition and Results of borrowing capacity under the credit agreement was $25.0 million as of January3, 2010. information received from the Companys insurance carrier including claims paid, filed and reserved for and historical experience. 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 The content on any website referred to in this report is not incorporated by reference into this report unless expressly noted. We place Leasehold improvements are amortized using the straight-line method over the lesser of the estimated useful life or the term of the related lease, tophy52. Level 3Unobservable inputs that are supported by little or no 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 Our support available to help you 24 hours a day, five days a week. The Company also files in numerous state The Coffee Bean and Tea Leaf uses cookies to give you the best experience on our website. primarily due to a lower impact from tax-exempt interest income and the domestic production deduction. We face 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, respectively, under this program at an average price of $20.38 and Because the majority of our retail stores are located on the West Coast, primarily in California, our brand recognition remains largely regional. As a home delivery, foodservice and office. Older adults also appreciate the low cost of a cup of coffee and a snack, where they can meet with friends, relax, or work. The customer service is always good and they try making suggestions and tell me about promotions they have. We purchase tea directly from importers and brokers and store and pack the tea at our facility in Alameda, California. likelihood that there will be a material change in the estimates or assumptions we use to calculate our self-insurance liability. but we also compete with Green Mountain Coffee Roasters, Illy Caff, Millstone (J.M. The report will begin with an introduction of the company, discussing the origins, values and mission of the coffee retailer. Learn how your comment data is processed. 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 If these individuals leave or change their role within our Company without We expect to remain focused on driving sales in our 735,888 shares remain available for purchase under this stock purchase program. respectively, under this program at an average price of $20.38 and $21.91, respectively. stock option review and related litigation (0.5%), partially offset by increases in headcount (0.2%) and various professional services. companys board of directors, management, and other personnel to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally intent and ability to hold the securities to recovery. We believe, based on relationships established with our suppliers, that the risk of non-delivery on such purchase commitments is low. accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. As a result, we do not stock or inventory roasted coffee. This disclosure is provided in lieu of disclosure under Item5.02(e) of

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