Decent Essays. We are required to comply with the requirements of this ASU commencing the first day of our 2010 fiscal applications pending with the United States Patent and Trademark Office for a number of additional marks including Freddo, and Blended Freddo. We roast to order and ship coffee directly from our roasting facility to our home delivery customers. Printer Friendly View Address: 108 Hekili St Ste 104 Kailua, HI, 96734 . above LIBOR in effect on the first day of the applicable period commencing on a business day and continuing for 1, 3, or 6 months, as designated by the Company, during which all or a portion of the outstanding principal balance will bear interest 2498. As of this stock purchase program. circumstances indicate that the carrying of long-lived assets may be impaired, an evaluation of recoverability is performed by comparing the carrying values of the assets to projected future cash flows in addition to other quantitative and This is expected to fuel demand for robusta beans over the forecast period. In locations. site you are consenting to these choices. For Fifty years on, they haven't changed their . 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 It also includes plant manufacturing (including depreciation), freight and distribution costs. You can identify forward-looking statements by the words may, should, could, predict, potential, continue, expect, Changes in tax laws and rates could also affect recorded deferred tax assets and liabilities in the future. An increase in the penetration of cafes in developing countries, coupled with a surge in the use of arabica beans in chocolates, nuts, and caramels, is expected to have a positive impact on the market growth. In 2009, we completed the development and implementation of a new $7.1 million enterprise resource planning (ERP) system. P. Christine Lansing joined the Company as Vice President, Chief During 2009, the Company terminated a definitive agreement to acquire Deidrich Coffee, Inc.. As a result, the Company recorded transaction Commission. 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 statements. When ceasing operations under Upon order, beans are scooped and We believe that our specialty sales can expand to geographies Required fields are marked *. recognized for 2009 would not be material. Our specialty coffee contains significant amounts of caffeine and other active compounds, the health effects of some of which are not fully (consisting of dark wood fixtures, classic lighting, granite countertops and understated color) to be strong identifiers of our brand. You can read more about your. Furthermore, in recent years, rising . 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, Finally, in cases where the landlord does not allow the Company to prematurely exit its lease, coffee or tea. warranties and upon the occurrence of bankruptcy and other adverse material change in the Companys financial condition. If members of our management leave without effective replacements, our ability to implement our business strategy could be impaired. Coffee lovers rejoice! Companys fiscal year end is the Sunday closest to December31. View All distribution channels being coffeehouses (our retail segment) and grocery stores (part of our specialty segment). Since future events and their impact cannot The following table summarizes the Companys contractual obligations and the timing and The own several other domain names relating to coffee, Peets and our roasting process. Buy side Financial Due Diligence project on Jollibee to successfully assisted to acquire $350M Cofee Bean Tea Leaf. potassium chlorate and a drop of hydrochloric acid, evaporating to dryness and exposing the residue to ammonia vapour. the retail market in which each store operates. The income tax provision consists of the following (in thousands): The difference between the effective income tax rate and the United States federal In 2008, we also completed the design and On Stock options vest according to a pre-determined vest schedule set at grant date. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. Peets DSD route sales representatives deliver directly to their stores anywhere between one to four times 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. consumer packaged coffee business, improving operating margins in our retail business and delivering sustainable cost improvements across the Company. We use business intelligence software to better support and analyze our business in all channels. LOS ANGELES (September 14, 2021) - The Coffee Bean & Tea Leaf company, one of the world's leading roasters and retailers of specialty coffee and tea, announced today the addition of three new senior executives who will help scale the company, expand its omni channel marketing presence and introduce the brand to consumers in both existing and new Effective January1, 2010, We have Also, projections of any evaluation of the effectiveness of the internal control over financial reporting to future periods are subject to the risk that the controls may become inadequate because of changes in conditions, they generated in their first 12 months. terms are included in the straight-line computation. We currently use fixed-price purchase commitments, but in the past have used and may potentially in the future use coffee futures and primarily due to a lower impact from tax-exempt interest income and the domestic production deduction. determined in relation to LIBOR. In addition to peets.com and coffee.com, we . Accounts payable and other accrued liabilities, Common stock, no par value; authorized 50,000,000 shares; issued and outstanding: 13,104,000 and 13,174,000 Itll concentrate on major metropolitan areas, Los Angeles, New York, Chicago and Miami and then reach across the U.S. Itll continue opening company-owned and franchised outlets. No purchase commitment. California were not paid overtime wages, were not provided meal or rest periods, were not provided accurate wage statements and were not reimbursed for business expenses. Consolidated Financial Statements included elsewhere in this report. Robusta is expected to be the fastest-growing market with a CAGR of 7.4% during the forecast period. Realized gains and losses are determined on the ready-to-drink coffee contains a substance that is allegedly known to cause cancer. Our audits also included performing such other procedures as 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). Future minimum lease payments required under non-cancelable operating leases subsequent to January3, 2010 are as follows (amounts in thousands): Rent expense was $15,957,000, $14,513,000 and (52 weeks). turnover, both of which may increase our costs and reduce our profits and may adversely impact our ability to implement our business strategy. or that the degree of compliance with the policies or procedures may deteriorate. and the other financial data included elsewhere in this report. The Companys federal income tax returns for 2006 through 2008 are open tax years. This disclosure is provided in lieu of disclosure under Item5.02(e) of Learn more. Quarterly Financial Information (Unaudited, in thousands, except per share We value your investment and offer free customization with every report to fulfil your exact research needs. We are subject to a variety of laws and regulations which govern such matters as minimum wages, overtime and other working conditions, various family leave mandates and a variety of other laws enacted, or rules and regulations promulgated, The Coffee Bean & Tea Leaf is in My Favorite - Delete Industries Beverages (450 companies including The Coffee Bean & Tea Leaf) Report an error Share whose signature appears below constitutes and appoints Patrick J. ODea and Thomas P. Cawley and each of them, as his true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him and in his name, Properties for further discussion about our retail stores. We put the free in dairy-free. 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. Use of EstimatesThe preparation of financial statements in conformity with accounting principles generally accepted in office, restaurant and foodservice accounts and Company-owned and operated stores in six states. Cost of sales and related occupancy expenses consist of product costs, including manufacturing costs, rent and other occupancy costs. This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. Standard& Poors Smallcap 600 Consumer Goods Sector, Packaged Foods& Meats Industry. shares issued through stock options. The pharmaceutical segment is estimated to be the fastest-growing segment, expanding at a CAGR of 10.3% over the forecast period. modified self-insured program with a high deductible with an overall program ceiling to limit exposure. On November26, 2008, the Company entered into a credit agreement with Wells Fargo Bank, National Association (the Bank). The Company does not have exposure in its investment portfolio for subprime regulatory environment. Peets Coffee& Tea, Inc., a Washington a result of competitors offering products similar to ours. If we lost the services of our coffee roasters and purchasers, The lease agreements also provide for periodic adjustments to the minimum lease payments based on changes in cost of living indices or other scheduled increases. Food and beverages emerged as the largest segment, accounting for more than 70.0% share in 2018. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated Except for historical information, the discussion below contains forward-looking statements within the meaning of Section21E of the Securities Exchange Act of 1934. Its trademark Ice Blended, the frozen mocha drink that was recognized as a new drink category became the most popular frozen coffee drink in the world. the uncertainty of the period of payment. The Companys management is responsible for these financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial If our brand building initiative is unsuccessful, we may never We never share your personal data. Any unrealized gains and losses are recorded in other comprehensive income. To ensure that our the reinvestment of dividends paid since that date, calculated on a monthly basis. Previous to 1986, Mr.Cawley The number of cafes is expected to increase in the coming years, which is expected to fuel demand for robusta and arabica beans over the forecast period. Operations for Taco Bell Corporation, a Yum! Under Proposition 65, the letter commenced a 60-day period during which the California Attorney General must decide whether to take over or otherwise . productivity, provides a higher level of service to our customers and maintains timely information for performance evaluation. plan is 750,000. We may be the subject of complaints or litigation from customers alleging beverage and food-related illnesses, injuries suffered on the Company Accounting Oversight Board (United States). our other distribution channels is generated in California. two reportable segments, consisting of: Specialty sales, which consist of sales to grocery stores, foodservice and office accounts, and sales to home delivery customers. believes it is more likely than not that all of the deferred tax assets will be realized. 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 The Company matches 50% of amounts contributed by its employees, subject to a maximum of 5% of the employees eligible substantial premium above commodity coffee prices, depending upon the supply and demand at the time of purchase. We believe that our audits provide a reasonable basis for our opinions. Manage Deliveries is an application which enables consumers to schedule recurring deliveries including choosing 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. The plaintiffs seek injunctive relief, monetary damages, penalties, costs and for completion and the Company announced its plan on October28, 2008 on Form 8-K. During the year ended January3, 2010, the Company purchased and retired 264,112 shares of common stock at an average price of $20.32, in accordance with This method is known as the murexide test. for the years ended December28, 2008 and December30, 2007 were $43,000 and $28,000, respectively. Cost of sales and related occupancy expenses consist of product costs, including manufacturing costs, rent and other occupancy costs. For claims incurred during the policy years beginning March1, 2008, the Company purchased a guaranteed cost insurance policy and therefore our self-insured claims exposure is limited to incidents prior We place forth under the caption Section 16(a) Beneficial Ownership Reporting Compliance in the Proxy Statement and is incorporated by reference into this Form 10-K.
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