our common stock as reported on the Nasdaq National Market for each quarter during the last two fiscal years. For policy years beginning March 2002 through February 2008 our workers compensation program was a Printer Friendly View Address: 108 Hekili St Ste 104 Kailua, HI, 96734 . The Companys contribution was $787,000, $589,000 and $490,000 in 2009, 2008 and 2007, respectively. Company Description:? YesNox. By continued use, you agree to our privacy policy and accept our use of such cookies. December 2009 store closures: As a result of the December 2009 store closures, the Showing its resurgence, it recently debuted a new Coffee Tea & Bean outlet in the thriving Fort Greene area of Brooklyn on August 28, 2020. Although we take measures to ensure that Net revenue in the home delivery channel declined primarily due to cannibalization from our grocery business expanding in the eastern U.S. and benefits, independent distributor commissions, repairs and maintenance, supplies, training, travel and banking and card processing fees. changes in equity during the period, except those resulting from transactions with shareholders of the Company. As of January3, 2010, we. understood. Our success in promoting and enhancing the Peets brand will also depend on our ability to provide customers with high quality products and customer service. stores) and on high-traffic streets. A lot has changed since '63, but our philosophy never has. 28, 2008, and December30, 2007, REPORT OF INDEPENDENT REGISTERED PUBLIC 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 The coffee chain scene in Singapore is dominated by one very large global player. 2009, 2008 and 2007, respectively, which were classified as operating expenses on the consolidated statements of income. was filed in July 2008 against the Company. In the grocery channel, we sell our coffee in 12 ounce packages at prices established by commodities more or less attractive investment options. Additionally, customers with that, among other things. fair value of each stock award is estimated on the grant date using the Black-Scholes-Merton option-pricing model based on assumptions for volatility, risk-free interest rates, expected life of the option, and dividends (if any). Because our business is highly dependent on a single product, specialty coffee, if the demand for specialty coffee decreases, our business could suffer. 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 there were no borrowings under this agreement. The complaint alleges that store managers based in These and other economic factors could have a material adverse effect on demand for our products and on our financial condition and operating results. affecting consumer spending behavior. at this time, we are not able to predict the probability of the outcome or estimate of loss, if any, related to this matter. 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. Senior Reporter. Starbucks Corporation is the largest competitor in the category. a nominal amount of sales growth for the Company. Despite knowing that cultural differences could affect demand for their products and services, The Coffee Bean & Tea Leaf believed that standardization was far more important than adaptation. We must constantly protect against any infringement by competitors. We have an integrated labor and scheduling The following discussion on results of operations should be read in conjunction with Item 6. Sales from beverages and pastries increased 6.7% to $142.8 million. 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. The Coffee Bean & Tea Leaf peak revenue was $500.0M in 2021. We currently use fixed-price and not-yet-priced purchase commitments, but in Since 2019, it is a trade name of Ireland-based Super Magnificent Coffee Company Ireland Limited. 2008, the Company maintained marketable securities classified as available-for-sale as follows (in thousands). that date. Sep 9, 2022. small batches, and we rely on the skills and training of each roaster to maximize the flavor and potential in our beans. Preopening costsCosts incurred in connection with the start-up and promotion of new store openings are expensed as incurred. 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 From 1995 to 1997, Mr.ODea was the Vice President and General Manager of the Specialty Cheese Division of Stella Foods. But Coffee Bean & Tea Leaf is a force internationally with 1,080 stores in 27 countries. What are the factors driving the coffee beans market. Increases in the cost and decreases in availability of high quality Arabica coffee beans could impact our profitability and growth of our business. When facts and circumstances indicate that the carrying value of long-lived assets may be impaired, an 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). 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). During 2009, proceeds from sales and maturities net of purchases totaled $15.8 million, including $7.7 million of Diedrich common stock. our ability to source and purchase a sufficient supply of high quality coffee beans and roast coffee beans consistent with our quality standards could suffer. prices we pay. 3, 2010, December28, 2008, and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December No shares remain available for purchase under this stock purchase program. The decrease from 2007 was primarily due to procurement savings (-0.7%), leverage of costs related to the roasting facility that opened in 2007 (-0.4%), and be determined with certainty, the actual results will inevitably differ from our estimates. Future amortization expense for 2010 through 2014 is estimated at $33,000, $15,000, $11,000, $10,000 and $10,000, respectively. No shares remain available for purchase under this stock purchase program. . Arabica and robusta beans are used in different medicines and functional food owing to their high antioxidant content, which, in turn, is expected to fuel demand for these beans over the forecast period. Some of the Sales of whole bean coffee and related products in the retail segment increased by Foodservice and office net revenue increased 34.7% over the prior year primarily due impact our grocery business. The ASU also 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 rd week, as summarized by business channel below. As of January3, If our brand building initiative is unsuccessful, we may never Exchange Act of 1934, as amended (the Exchange Act)). Opportunities are areas where a companys efforts can be concentrated to improve results, sales, and, eventually, profit. At January3, 2010, we had $47.9 million in cash and cash equivalents. To support these sales, we have developed a DSD sales and distribution system. increasing the availability of our products in grocery stores, license locations and foodservice locations to increase awareness of our brand and create and maintain brand loyalty. Officers of the Registrant.. (a)(2) Index to Financial a result of competitors offering products similar to ours. jurisdictions. 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. Other popular restaurants include McDonalds, Kentucky Fried Chicken (KFC), and coffee shops such as Starbucks, Cafe Coffee Day (CCD), etc. Some Alternates fit, except 'e' that don't match. We procure coffee from 23 countries, with a large percentage of coffee coming from Central and South America, and over 30 different Los Angeles-based Coffee Bean will add 14% to Jollibee's global sales and expand its store network by more than a quarter, Jollibee Chairman Tony Tan Caktiong said. Cash received in advance of product delivery is recorded in deferred revenue on the accompanying and the actual payment amount based on class participation is not. take over or otherwise become involved in this matter. in high quality coffee and related products. The company first gave rise in the neighbourhood of Brentwood in Los Angeles, September 1963. Were trying to fill the niche between conglomerate and mom and pop coffee shops.. The Proxy Statement The points represent index levels based on the last trading day of the Companys fiscal year. The global market is highly competitive. would require employers to provide healthcare to all employees, to pay either a portion of healthcare premiums or a flat payroll tax in lieu of premiums, or to pay a fee for each employee not covered by this annual report. recognized for 2009 would not be material. There is a study about the consumer behavior between Starbucks and The Coffee Bean & Tea Leaf. . The supply and price of coffee are subject Data File required to be submitted and posted pursuant to Rule405 of RegulationS-T (232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submit and post on marketable securities are recorded in accumulated other comprehensive income at each measurement date. 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 The parties are scheduled to appear before the California Superior Court on March26, 2010 to seek the Courts preliminary approval of the settlement terms. 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. effective replacements, our operations may suffer. adequately cover our losses and expenses in the event of an earthquake. Effective January1, 2010, Inventory cost includes certain indirect this report in greater detail in the section entitled Risk Factors under Part I, Item1A below. The marketing director back then downplayed the head-to-head competition, saying it didnt want to be on every single corner. 2009) included 53 weeks and the fiscal years ended December28, 2008 (fiscal 2008) and December30, 2007 (fiscal 2007) included 52 weeks each. Because we rely heavily on common carriers to ship our coffee on a daily basis, any disruption in their services or increase in shipping costs could 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. See notes to Our business strategy emphasizes expansion through multiple channels of distribution. delivery, and office and restaurant accounts throughout the United States. percent of net revenue, expenses were flat compared to 2008 as increases in headcount and payroll related expenses were offset by leverage of other costs on higher sales. 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. Increasing demand for moisturizer, face wash, lip balm, and lotion is expected to fuel demand for coffee beans over the forecast period. Customers have several options for where they can buy the product. Interest income, net includes interest income and Coffee, one of the segments analyzed and sized in this study, displays the potential to grow at over 4.6%. (iii)a number of shares determined by the Board prior to such date, which number shall be less than (i)and (ii)above. require us to contract with alternative, and possibly more expensive, common carriers. As this matter is at a very early stage, The Company has adopted the Peets Coffee& Tea, Inc. Code of Business Conduct and Ethics that applies to all officers, directors and employees. system in our retail stores that enhances productivity and customer service. Principles of ConsolidationThe consolidated financial statements include the accounts of the Company and its regulatory environment. qualitative analyses. The majority of our business is in California, which has experienced an unpredictable workers compensation environment. 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. We do not know whether we will be able to successfully implement our business strategy or whether Shares of Common Stock held by each officer, director and each person The related accumulated amortization was $980,000 and $896,000 at January3, 2010 and December28, 2008, respectively. These financial instruments are all subject to fluctuations of daily interest rates. We believe that this growth will be fueled by continued consumer interest Stock options vest according to a pre-determined vest schedule set at grant date. percent of net revenue, cost of sales decreased from 47.5% in 2007 to 46.9% in 2008. For Fifty years on, they haven't changed their . ready-to-drink coffee contains a substance that is allegedly known to cause cancer. See Note 13 to the consolidated financial statements. chart set forth below was prepared by Research Data Group, Inc., which holds a license to provide the indices used herein. The impact of a major earthquake faults in the San Francisco Bay area on our facilities, infrastructure and overall operations is difficult to predict, and an earthquake could seriously disrupt our entire business. incorporated by reference into this Form 10-K, the Proxy Statement is not being filed as a part hereof. such files). We invest excess cash in interest-bearing, U.S. government, agency, municipal and guaranteed student loan obligations. the COSO framework, our management concluded that our internal control over financial reporting was effective to the reasonable assurance level as of January3, 2010. The last element of Coffee Bean and Tea Leaf SWOT Analysis is its probable threats. The company has consulted with investment bankers and may soon try to spin off The Coffee Bean and Tea Leafs Asian operations. Which segment accounted for the largest coffee beans market share? We roast to order and ship fresh coffee daily We purchase tea directly from importers and brokers and store and pack the tea at our facility in Alameda, California. 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 coffee-producing countries; economic and political conditions affecting coffee-producing countries; foreign currency fluctuations; the ability of coffee-producing countries to agree to export quotas; and general economic conditions that make Our website features an Express. 10b-18(a)(3) of the Exchange Act of the Companys common stock during the fourth fiscal quarter of 2009. current views and expectations with respect to future events, are based on estimates and assumptions, and are subject to risks, uncertainties and other important factors. Operations. site you are consenting to these choices. These products are carefully selected for quality and uniqueness. Key Principal: SUNNY SASSOON See more contacts Industry: Coffee shop. 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. If, at the end of the 60-day period, the Attorney General has not made the determination to take over the matter entirely, the law firm would be entitled to file an action in California state court against the Although we were ultimately outbid for the business, the transaction resulted in a net gain of $11.5 million due to the receipt of a break-up fee and gains on the sale of Diedrich Coffee stock, net of external professional 3.8% to $55.1 million, while sales of beverages and pastries increased by 15.0% to $132.6 million. Originally based on the old Bookman Swashes Medium Italic. filer, or a smaller reporting company. DBS Bank (20 Oct 2019) Design Thinking. You should read this report and the documents that we incorporate by reference in and have filed as exhibits to this 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 The fiscal The Coffee Bean and Tea Leaf (Malaysia) Sdn. (consisting of dark wood fixtures, classic lighting, granite countertops and understated color) to be strong identifiers of our brand. court against the companies named in the letter. future, by the actions of certain organizations and associations that have historically attempted to influence commodity prices of green coffee beans through agreements establishing export quotas or restricting coffee supplies worldwide. costs related to the purchasing, transportation and warehousing of coffee, tea and merchandise. Older adults also appreciate the low cost of a cup of coffee and a snack, where they can meet with friends, relax, or work.