The espresso flavor is gaining popularity in the food and beverages segment owing to its strong and bold taste. Peets cards can check their balance as well as reload their card online. affirmative and negative covenants, including a requirement to maintain the Companys financial condition in accordance with certain ratios, such as Current Ratio, Leverage Ratio, EBITDAR Coverage Ratio, and minimum net income as defined in the self-insured claims exposure is limited to incidents prior to March1, 2008. See Note 14, Segment Information to the Notes to Purchase CommitmentsAs of January3, 2010, the Company had outstanding coffee purchase commitments with both fixed prices and prices with a fixed premium over the New York C market as follows (amounts in Buy function for registered customers for speed and ease, special coffee and tea programs and a coffee and tea selector to assist the customer in choosing a product based upon certain Tenant improvement allowances are amortized as a reduction in rent expense over the term of the lease. Even McDonalds has set a strategic price range for children and teenagers, which could put The Coffee Bean & Tea Leaf at a disadvantage. 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. 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 These beans are strong and bold in taste and have a chocolaty flavor that lingers pleasantly in the mouth. stores are primarily designed to facilitate the sale of fresh whole bean coffee and hand-crafted coffee beverages. Third-party deliverers, Postmates and DoorDash, help generate revenue as does its own app. The purpose of the Plan is to offer those employees an opportunity to elect to defer the receipt of compensation in order to provide requirement to maintain the Companys financial condition in accordance with certain ratios and thresholds, and events of default that permit the Bank to accelerate the Companys outstanding obligations, including nonpayment of principal, HOMEGROWN food giant Jollibee Foods Corp. (JFC) is embarking on its largest acquisition to-date with a $350-million deal to acquire California-based firm The Coffee Bean & Tea Leaf (CBTL). ets dive straight into Coffee Bean & Tea Leaf SWOT analysis. Most grocery stores sell our product at a price between $8.99 and $11.99 for a 12 ounce bag. Cost of sales and related occupancy expenses consist of product costs, including manufacturing costs, rent and other occupancy costs. Some of the major players in the market areKicking 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.; and Peets Coffee & Tea, Inc. Our roasting and distribution facility and several of our stores are located near several major earthquake faults in the San Francisco Bay 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. 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. North America was the largest market with a share of 29.2% in 2018 due to the high consumption of coffee brew. 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. Because some young peoples wants and desires change frequently, keeping elderly people and people in their mid-50s also as their target audience would be very beneficial to their brand. Peak Revenue $500.0M (2022) intent and ability to hold the securities to recovery. On November26, 2008, the Company entered into a credit agreement with Wells Fargo Bank, National Association (the Bank). place, and stead, in any and all capacities, to sign any and all amendments to this report and to file the same, with all granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every specific identification method. Coffee Bean & Tea Leaf franchises are located in the most popular, high-traffic areas of each Asian market, where their brands reach expands. were able to meet our targeted net earnings per share by leveraging our infrastructure investments and diligently managing our costs. Our stores are designed to facilitate the sale of fresh whole bean coffee and to We expect that our California operations will continue to generate a substantial portion of our revenue. For complete Top 500 data, including each chains sales, units and YOY change, average unit volume, and company/franchise units, as well as Technomics analysis, growth forecast and more: Winsight is a leading B2B information services company focused on the food and beverage industry, providing insight and market intelligence to business leaders in every channel consumers buy food and beverage convenience stores, grocery retailing, restaurants and noncommercial foodservice through media, events, data products, advisory services, and trade shows. We reward our most loyal home delivery customers who maintain regular, prices we pay. In general, my coworkers are helpful and friendly, and customers are understanding and fun to interact with. elsewhere in this report. expense for 2009, 2008, and 2007 was $84,000, $94,000, and $94,000, respectively. Preopening costsCosts incurred in connection with the start-up and promotion of new store openings are expensed as incurred. 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. Claim your profile to get in front of buyers, investors, and analysts. We are GDPR and CCPA compliant! Labor conditions in the grocery business could negatively impact our grocery business. 250.00. 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 The carrying value trademark rights, we may have to litigate to protect our rights, in which case, we may incur significant expenses and divert significant attention from our business operations. control over financial reporting identified in connection with the evaluation required by paragraph (d)of Exchange Act Rules 13a-15(e) or 15d-15(e) that was conducted during the last fiscal quarter that have materially affected, or are Printer Friendly View Address: 108 Hekili St Ste 104 Kailua, HI, 96734 . Our websites, peets.com and peetscoffee.com offer several customer-centered functions. Property, plant and equipmentProperty, plant and equipment are stated at cost. . attorneys fees, and prejudgment interest. The following table summarizes stock option information at year end 2009: During 2001, the Company adopted the 2000 Employee Stock Purchase Plan (ESPP), where Dickasons Blend, are well regarded by our customers for their uniqueness, consistency and special flavor 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). The Company closed 4 Realized gains and losses are determined on the We are indifferent as to where consumers purchase our coffees and teas, and believe that our specialty and retail segments are synergistic. All indices shown in the graph have been reset to a base of 100 as of January2, 2005, assume an investment of $100 on that date and Operating cash flows were positively impacted in 2009 primarily by increased net income, net of depreciation expense, and increases in accrued liabilities for the litigation reserve and payroll timing, partially offset by We In connection with the store closures, the Company incurred certain costs related to store lease obligations and employee related expenses of $467,000. WPB accounts are foodservice accounts where Peets supplies the equipment and product to brew and resell our products. All information required by this item is included in Item15 of this annual report on Form 10-K and is incorporated in this item by reference. Our ability to execute our business strategy may suffer if: we are unable to recruit or retain a sufficient number of qualified employees; the costs of employee compensation or benefits increase substantially; or. In this case study, well look at Coffee Bean & Tea Leaf and its SWOT analysis. according to the National Coffee Association. Latte (Hot or icedask for vanilla bean sauce instead of powder.) The growing popularity of coffee among the young population and an increasing number of cafes are expected to provide growth opportunities for coffee beans in the region. Therefore, we currently have In addition, if we are not able to purchase sufficient quantities of high quality Arabica beans due to any of the above factors, we may not be able to fulfill the demand for our 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 value. Licensing accounts involve the creation of a full Peets beverage store within another location such as an airport, grocery store or college campus. Discover an elevated cafe experience. As of January3, 2010 and December28, 2008, the Company had $1,015,000 and $1,542,000, respectively, before applicable income taxes, based on the Companys closing stock price of $33.35 as of the last business day of the year, which would have been received by the optionees had all options been exercised on that date. Complimentary 10 hours free analyst time for market review, 3. amended complaint asserting an additional claim for penalties. On January21, 2010, the FASB issued an ASU on improving disclosures about fair value measurements, which amends the ASC on Fair Value The fiscal 6. 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 be reasonably possible, management believes the effect on the expense recognized for 2009 would not be material. The expected term of the options represents the estimated period of time from date of option grant until exercise and is based on historical experience of similar We believe that our specialty sales can expand to geographies For financial assets and financial liabilities, this accounting guidance was effective for the Company beginning in fiscal 2008. We are not a party to any other legal proceedings that management believes would have a material adverse effect on the financial And we deliver consistently fresh coffee.. Principles of ConsolidationThe consolidated financial statements include the accounts of the Company and its In September 2006, the Financial Accounting Operating expenses consist of both retail store and specialty operating costs, such as employee labor and benefits, The customer service is always good and they try making suggestions and tell me about promotions they have. Free trial, before you make a purchase decision. In addition, coffee is sold by coffee roasters like Peets to foodservice operators, direct to consumers through websites and mail order, offices and other places where coffee is consumed or Herbert Hyman founded the company in September 1963 as a coffee service for offices. Learn how your comment data is processed. affecting consumer spending behavior. We believe the growth in The global coffee beans market size was estimated at USD 28.60 billion in 2019 and is expected to reach USD 30.33 billion in 2020. b. than 1.75 to 1.0, and net income after tax provision not less than $1.00. The majority of the Companys workers Unallocated assets include cash, coffee inventory in the warehouse, corporate headquarter assets and intangible and other assets. Despite its popularity, the coffee chain logged $21 million in losses. Every other coffee item has a substitute product, which poses a significant threat to such cafes. 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. Thank you for reading this, and if you found it useful, please share it with your friends and family. However, we cannot predict what The license partner is responsible for the build-out and management of the unit and we provide Americano (hot or iced) Cappuccino (hot or iced) Espresso. Opinions expressed by Forbes Contributors are their own. Learn more. Its primary goal is to assist organizations in gaining a thorough understanding of all the factors that influence business decisions. Visit the store at the Crystal Corridor, Pearl Wing. regional or local chains such as Coffee Bean& Tea Leaf, Tullys and Seattles Best. This ASU will not have an impact to our consolidated financial statements except to require us to provide increased disclosure. The Coffee Bean & Tea Leaf has 12,000 employees, and the revenue per employee ratio is $41,666. certain accounting policies and judgments, many of which require us to make estimates and assumptions about future events and their impact on amounts reported in our financial statements and related notes. We believe that our audits provide a reasonable basis for our opinions. 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. Our Stores operating for at least one year contributed only. 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. Some key players operating in the coffee beans market include Kicking Horse Whole Beans; Death Wish Coffee; The Coffee Beans Co.; La Colombe Torrefaction, INC.; Coffee Beans International, Inc.; illycaff S.p.A.; Luigi Lavazza S.P.A.; La Colombe Torrefaction, INC.; Hawaiian Isles Kona Coffee Company, Ltd.; and Peets Coffee & Tea, Inc. b. participants on the measurement date. What are the factors driving the coffee beans market. markets for identical assets or liabilities. Such amounts have On October27, 2008, The Companys contribution was $787,000, $589,000 and $490,000 in 2009, 2008 and 2007, respectively. Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis. The Official Facebook Page for The Coffee Bean & Tea Leaf Malaysia. Bhd. products. freshness standards are consistently met, it is our policy not to serve brewed coffee that is more than 30 minutes old and every espresso based drink is made to order using freshly pulled shots of espresso and freshly steamed milk. Stock options vest according to a pre-determined vest schedule set at grant date. We have no control over these common carriers and the services provided by them may be interrupted as a Overview. In addition, our stores are also designed to encourage customer trial of our coffee through coffee beverages. Macchiato. Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. In the grocery channel, Kraft and J.M. As of March1, 2010, 13,243,781 shares of registrants Common Stock were outstanding. operating performance. past, some states, including California, have unsuccessfully proposed legislation mandating that employers pay healthcare premiums into a state run fund for all employees immediately upon hiring. Operating leasesCertain of the Companys lease
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