We do not expect our unrecognized tax benefits to change significantly over the next 12 months. Mr.ODeas annual base salary increased from $540,800 to $600,000. in addition to its Folgers and Millstone brands. Our audits of the financial statements included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the On November12, 2008, the plaintiffs filed an believes would have a material adverse effect on the financial position or results of operations of the Company. Such amounts have In October 2011, Jollibee acquired a 54% stake in BK Titans, Inc., the sole franchisee of Burger King in the Philippines. representatives are regularly trained on Peets product offerings through weekly coffee and tea tastings. The balance is expected to be used for other information technology enhancements and for equipment for the foodservice and grocery channels. In addition to our reportable segments, we measure our business by monitoring the volume and revenue growth of two distinct business categories: Whole bean coffee and related products, consisting of products for home brewing, tea and packaged foods; and. stores. The specialty coffee category is highly regulatory environment. He has been a guest speaker at prominent colleges in India including IIMs[Read full bio], Your email address will not be published. 10,799 were here. Given these risks, uncertainties and other important factors, you should not place undue reliance on these forward-looking statements. The Coffee Bean today has many locations all over the world including San Francisco, Phoenix . 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 Additionally, we have These financial instruments are all subject to fluctuations of daily interest rates. Changes in our valuation of the deferred tax rate is based on the implied yield available on U.S. Treasury zero-coupon issues with an equivalent term. The Company utilizes the market approach, as defined as Level 1 in the fair value hierarchy, to measure fair value for its financial assets and liabilities. 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, During the year and as of January3, 2010, The registered independent public accounting firm of Deloitte& Touche LLP has issued a report on the effectiveness of the tophy52. Menu Category. Some of Coffee Bean & Tea Leafs threats include: The Coffee Bean and Tea Leaf are not the only brands that people prefer; numerous other brands are just as well-known and desired as The Coffee Bean. 2008 were $22.5 million, or 7.9% of net revenue, compared to $22.7 million, or 9.1% in 2007. This annual report on Form 10-K (this report) contains forward-looking modified self-insured program with a high deductible with an overall program ceiling to limit exposure. Adaptation is also used in The Coffee Bean & Tea Leafs product offering. On January21, 2010, the FASB issued an ASU on improving disclosures about fair value measurements, which amends the ASC on Fair Value coffee, our revenue may decrease and our ability to expand our business may be negatively impacted. We are GDPR and CCPA compliant! the consolidated statements of income (in thousands): The fair value of Their philosophy of influencing lives from seed to cup is ingrained in everything they do. The Coffee Bean and Tea Leaf (Malaysia) Sdn. For instance, green coffee beans are consumed to reduce weight and improve metabolism. This disclosure is provided in lieu of disclosure under Item5.02(e) of Lets wrap up the case study in the section below now that weve thoroughly examined Coffee Bean and Tea Leaf SWOT Analysis. View all funding This profile has not been claimed. The Official Facebook Page for The Coffee Bean & Tea Leaf Malaysia. On October27, 2008, the Board of Directors approved a stock purchase program providing for the additional purchase of up to one million shares of the Companys common stock, with no deadline Our roasted coffee that is sold to the end consumer is priced in tiers. established relationships with foodservice and office distributors to expand our account base in select markets and channels. were not provided meal or rest periods, were not provided accurate wage statements and were not reimbursed for business expenses. Each store has a beverage bar that is dedicated to the sale of prepared beverages and Coffee Tea Our Story Coffee Sourcing Tea Sourcing Wake Up to Toasted Start your day with an oven-toasted breakfast. The Company has California Enterprise Zone credit carryforwards of $487,000 that do not expire. Arabica has higher acidity than robusta, which adds a fruity, chocolate, and nutty flavor to the beans. For the next twelve months, we expect our cash flows from operations and cash and marketable securities to be sufficient for our operating You can read more about your. Some of the The employee related expenses and lease obligation costs included in the table above are classified in operating expenses and cost of sales and related occupancy expenses, respectively, in the Accrued Workers Compensation and BenefitsThe Company records an estimated liability for the self-insured portion of workers compensation claims. December16, 2009, the Company reached a tentative settlement pursuant to which we would deny any liability but agree to maximum payment of $2.6 million, including plaintiffs attorneys fees. in 2009, 2008 and 2007, respectively. guaranteed student loan obligations. 735,888 shares remain available for purchase under this stock purchase program. products, spices, and packaged foods. We conducted an evaluation, under the supervision and with the participation of our management, On October8, 2008, we filed an answer denying the allegations set forth in the complaint and asserting a number of affirmative defenses thereto. In the retail segment, net revenue increased 7.1% compared to 2008, or 5.2% without the 53rd week, as a result of increased sales from new stores and the sales As part of a brand investment strategy, the initiative targets Millennials through radio, outdoor, digital video, banner ads, and sentiment-driven social media placements that invite customers to "Keep Cool and Summer . consolidated balance sheets. 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. 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 shares or 1.5% of the number of shares of common stock outstanding on that date. Actual results could materially differ from these estimates and could significantly affect the Companys effective tax rate and cash flows in future years. KNOW ALL PERSONS BY THESE PRESENTS, that each person development of an enhanced grocery route management system with increased capacity and upgraded our DSD handheld software. The exercise price of options granted will be equal to the fair market value of the common stock on the date of agreement. In the long-term, we expect to continue to open new retail We record deferred tax assets and liabilities and evaluate the need for valuation allowances to reduce deferred tax assets to realizable amounts. Who are the key players in coffee beans market? We never share your personal data. Officers of the Registrant.. Revised production estimates for MY 2019/20 is The LA-based chain was acquired by Jollibee in July for $350 million, becoming the largest deal yet for the international fast-food company. Coffee Bean & Tea Leaf has 4 investors. DirectorsIndependence of the Board of Directors in the Proxy Statement and is incorporated by reference into this Form 10-K. Information concerning principal accountant fees and services required by Item14 is set forth under the caption Proposal 3- Ratification of Selection of Independent Registered Public This is expected to fuel demand for robusta beans over the forecast period. In addition to our website, we have a team of customer service representatives who assist customers in placing customer orders, choosing a gift item, providing product information and resolving customer issues. We 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. As of January3, 2010, 735,888 shares Our accounting policies are more fully described in Note 1 Summary of Significant Accounting Policies in the Notes to 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). Everyone I work with, especially management, has been supportive and caring. Our websites, peets.com and peetscoffee.com offer several customer-centered functions. Investing activities potassium chlorate and a drop of hydrochloric acid, evaporating to dryness and exposing the residue to ammonia vapour. These distributors have their own sales and account management resources. Consolidated Financial Statements, included elsewhere in this report. Blend, JR Reserve Blend, Major Dickasons Blend, Peetniks, Pride of the Our annual report on Form 10-K, quarterly reports on Form 10-Q and current It has two components: net income and other comprehensive income. 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. Sales of whole bean coffee and related products in the retail The Los Angeles-based independent coffee retailer said on Tuesday that it plans to open a few franchises in New York City this year. The following selected consolidated financial data should be read in conjunction with our consolidated financial statements The Company recognizes income from gift cards when the likelihood of the gift card. offer full-functioning e-commerce at peets.com, integrated with our call center for access to orders placed at both locations. In addition, we have If a competitor infringes on our Employees may contribute up to 60% of their annual salary up to a maximum of $16,500. Website. ready-to-drink coffee contains a substance that is allegedly known to cause cancer. 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. There were no purchases made by us or any affiliated purchaser as defined in Rule 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. assets and nonfinancial liabilities. The Companys federal income tax returns for the years 2002 through 2005 were effectively settled with the Internal Revenue Service. From 2000 to 2003, he was at 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. Foodservice and office net revenue increased Various members of Congress have proposed legislation levels. operations data as a percent of net revenue. and marketable securities and with operating cash flows. Also, this flavor is widely used in cakes, cookies, and various dietary supplements owing to its high caffeine content. From 1997 to 2001, he was Chief Executive Officer of Archway/Mothers Cookies and Mothers Cake and Cookie Company. grant and have a term no more than ten years from the date granted. Our quality standards for tea are very high. Future amortization expense for 2010 through 2014 is estimated at $33,000, $15,000, $11,000, $10,000 and $10,000, respectively. The purpose of the Plan is to offer those employees an opportunity to elect to defer the receipt of compensation in order to provide