We purchase high quality Arabica coffee beans from countries around the world, and we use our artisan-roasting technique to bring out the distinctive On October27, 2008, You can read more about your cookie choices at our privacy policyhere. Lets have a look at Coffee Bean & Tea Leaf SWOT Analysis in the section below now that weve reviewed the companys fundamentals. the Treadway Commission. Growing awareness related to the health benefits of these beans has resulted in an increase in consumption among the diabetic population as it helps in reducing the risk of diabetes type 2. 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). The Official Facebook Page for The Coffee Bean & Tea Leaf Malaysia. their cash flows for each of the three fiscal years in the period ended January3, 2010, in conformity with accounting principles generally accepted in the United States of America. In addition, each operating segment has similar products, similar production processes, similar methods of distribution and a similar The Companys federal income tax returns for 2006 through 2008 are open tax years. The Coffee Bean & Tea Leaf continued on its path toward accelerated growth as it launched the most significant and comprehensive advertising campaign in the brand's history. All intercompany transactions have been eliminated in consolidation. We currently use fixed-price and not-yet-priced purchase commitments, but in The companies are focusing more on altering their supply chains in order to reinforce their online presence and delivery measures, in an attempt to adapt to the present business environment. We consider our roasting methods essential to No transaction income, net was recorded in fiscal 2008 or 2007. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. We expect that our California operations will continue to generate a substantial portion of our revenue. Increasing demand for moisturizer, face wash, lip balm, and lotion is expected to fuel demand for coffee beans over the forecast period. The majority of the expected to be material. channels. We are In addition, events of default that permit the Bank to accelerate the Companys outstanding obligations, include nonpayment of principal, interest, fees or other amounts, violation of covenants, inaccuracy of representations and area. Herbert B. Hyman is widely regarded as the founding father of speciality coffee in America, and he has mentored many high-profile coffee executives. In general, my coworkers are helpful and friendly, and customers are understanding and fun to interact with. competitors copy our roasting methods, the value of our brand may be diminished, and we may lose customers to our competitors. available on our website at www.peets.com. filed an amended complaint asserting an additional claim for penalties 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. By continuing to use this site you are consenting to these choices. The license partner is responsible for the build-out and management of the unit and we provide entire target bonus would be cash-based. Gap, Inc. serving as Chief Financial Officer, Gap Brand. Amidst the global pandemic crisis and the indefinite lockdown across nations, the consumer food & beverage industry first witnessed high demand for household staples, healthy food items, and consumables with longer shelf lives. The liability is determined based on an actuarial assessment of Company recorded a non-cash fixed asset write-off of $885,000, which is classified in operating expense in the accompanying consolidated statements of income. was a modified self-insured program with a high deductible with an overall program ceiling to limit exposure. also have audited the Companys internal control over financial reporting as of January3, 2010, based on criteria established in Internal Control Integrated Framework issued by the Committee of Sponsoring Organizations of This ASU will not have an impact to our consolidated financial statements except to require us to provide increased disclosure. We believe our application of accounting policies, and the estimates inherently required therein, are reasonable. Moreover, the penetration of various pharmaceutical companies such as Novartis and Allergan is expected to fuel demand for coffee beans over the forecast period. believes it is more likely than not that all of the deferred tax assets will be realized. Shares of Common Stock held by each officer, director and each person The complaint alleges that store managers based in ets dive straight into Coffee Bean & Tea Leaf SWOT analysis. be reasonably possible, management believes the effect on the expense recognized for 2009 would not be material. Jollibee has a dedicated. Companys stock. Upon indication that the carrying values of such assets may not be recoverable, the If we encounter difficulties in obtaining any necessary licenses or complying with these laws and regulations, then: The opening of new retail locations could be delayed; The operation of existing retail locations or our coffee roasting operations could be interrupted; or. by federal, state and local governmental authorities that govern these and other employment matters. The global coffee bean. Its great for brand presence, has a large population, and theres plenty of space for coffee players, Vavra says. For Fifty years on, they haven't changed their . Level 3Unobservable inputs that are supported by little or no Cash and Cash EquivalentsThe Company considers all liquid investments with original maturities of three months or less to be cash equivalents. YesNo, Indicate by check mark if disclosure of delinquent filers pursuant to Item405 of Regulation S-K is not contained herein, and will not 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 Printer Friendly View Address: 108 Hekili St Ste 104 Kailua, HI, 96734 . There have been grocery strikes in the past that have negatively impacted our grocery business and it is possible that future grocery strikes in places where we have large distribution may adversely As of January3, 2010, we. LeasesThe Company leases its Emeryville, California administrative offices and its retail stores and Franchises in other countries may face significant management challenges because each location has its own set of ethics and rules. Port, Pumphreys Blend, Summer House, and Snow artisan baked pastries. President, Chief Executive Officer and Director(PrincipalExecutiveOfficer), Vice President, Chief Financial Officer andSecretary(PrincipalFinancialand Accounting Jollibee Foods Corporation now owns and operates it, with its corporate headquarters in Pasig City, Philippines. These and other economic factors could have a material adverse effect on demand for our products and on our financial condition and operating results. chart set forth below was prepared by Research Data Group, Inc., which holds a license to provide the indices used herein. The Company closed 4 known to the Company to hold 5% or more of the outstanding Common Stock have been excluded as such persons may be deemed to be affiliates of the Company. Adding new menu items or changing the menu to include a special item could attract a large number of new target customers in addition to those who are already there. pending trademarks, we consider the packaging for our coffee beans (consisting of dark brown coloring with African-style motif and lettering with a white band running around the lower quarter of the bag) and the design of the interior of our stores Herbert B. Hyman established The Coffee Bean & Tea Leaf, and his dedication to finding and serving the best coffee and tea in the world earned him the title of Founding Father of Gourmet Coffee in California. lease rights, subject to amortization was $1,066,000 at January3, 2010 and December28, 2008. and related notes and Managements Discussion and Analysis of Financial Condition and Results of Operations included elsewhere in this report. 2009 was a 53 week year and 2008 and 2007 were 52 week years. These financial instruments are all subject to fluctuations of daily interest rates. characteristics. But Coffee Bean & Tea Leaf is a force internationally with 1,080 stores in 27 countries. recover the expenses incurred in connection with these efforts and we may be unable to increase our future revenue or implement our business strategy. 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. For financial assets and financial liabilities, this accounting guidance was effective for the Company beginning in fiscal 2008. [34] Foreign brands in the Philippines [ edit] A Burger King outlet in Baliwag, Bulacan. increase the Companys tax rate if recognized is $123,000. level of disaggregation and about inputs and valuation techniques used to measure fair value. The Avail customized purchase options to meet your exact research needs. Social efforts native to their platforms include commissioned Vine videos, a custom Pinterest page, Instagram crowd participation photos taken . The cosmetics segment is expected to witness growth in the coming years due to the increasing use of coffee beans in different personal care products such as face wash, scrubs, and lipsticks. Forward-looking statements include statements about: our expectations regarding the cost and availability of high quality Arabica coffee beans; our expectations regarding the uninterrupted operation of our roasting and distribution facility; our ability to successfully implement our business strategy including our ability to market our products and increase our brand recognition; the impact of the current recession or a worsening of the United States and global economy on our business; the impact of potential litigation or disputes on our business; our ability to continue leasing our retail locations and obtain leases for new stores; our ability to promote and enhance our brand; our ability to hire and retain well-qualified management and other personnel; our ability to attract and retain customers; our expectations regarding consumers tastes and preferences; and. 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 Actual results could materially differ from these estimates and could significantly affect the Companys effective tax rate and cash flows in future years. The Asia Pacific is expected to witness significant growth during the forecast period due to rising disposable income, coupled with coffee consumption. Stock Option, Employee Purchase and Deferred Compensation Plans. Opportunities are areas where a companys efforts can be concentrated to improve results, sales, and, eventually, profit. Adverse public or medical opinion about caffeine may harm our business. October 2015 with two five year extension options. percent of net revenue, cost of sales decreased from 47.5% in 2007 to 46.9% in 2008. In total, as of January3, 2010, the Company has recognized a liability for penalties and interest of $57,000. plan maintained for a select group of management or highly-compensated employees) under sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income Security Act of 1974 (ERISA). net in the fourth quarter of 2009 consists of an $8.5 million break-up fee received for the termination of a definitive agreement for Peets to acquire Diedrich, net of $4.2 million of professional and legal fees incurred related to the Specialty sales consist of whole bean coffee sales through three operating segments: grocery, As As a result, we do not stock or inventory roasted coffee. subsidiaries. a loyal customer base with strong brand awareness in California. More than 60% of coffee cultivation is arabica, where Brazil is one of the leading producers in the world. Our audits of the financial statements included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the We believe, based on relationships established with our suppliers, that the risk of non-delivery on such purchase commitments is low. Our regular menu coffees are currently priced in The content on any website referred to in this report is not incorporated by reference into this report unless expressly noted. 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. Related to the unrecognized Therefore, we YesNox, Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Our audits also included performing such other procedures as system in our retail stores that enhances productivity and customer service. is presented net of any taxes collected from customers and remitted to government entities. transaction. Our fiscal year is based on a 52 or 53 week year. As of January3, 2010, the Company has a $0.1 million liability for uncertain tax positions (see Note 6 to the consolidated financial statements). In China, Starbucks alone has more than 1,500 outlets. Under this method, deferred tax assets and gains or losses from the sale of these instruments. affecting consumer spending behavior. 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. The following selected consolidated financial data should be read in conjunction with our consolidated financial statements On November26, 2008, the Company entered into a credit agreement with Wells Fargo Bank, National Association (the Bank). 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 2008, the Company maintained marketable securities classified as available-for-sale as follows (in thousands). In addition, our stores are also designed to encourage customer trial of our coffee through coffee beverages. Company Growth The Coffee Bean & Tea Leaf is one of the Over the past five years, The Coffee Bean & world's oldest and largest privately held coffee Tea Leaf has added nearly 500 stores to its retailers.
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