closed 4 underperforming stores. Retail store operations consist of sales of whole bean coffee, beverages, tea and related products through Company-operated retail stores. We transitioned our operations We do not expect our unrecognized tax benefits to change significantly over the next 12 months. Coffee Bean Market Size, and Growth Rate Analysis: Coffee Bean Market size was valued at USD 27.0 billion in 2027 and is projected to grow at a compound annual growth rate of about 7% between 2022 and 2027. Despite revenue growth that was less than our expectations, we Demand for specialty coffee is affected by many factors, including: National, regional and local economic conditions; Perceived or actual health benefits or risks. A significant interruption in the operation of our roasting and distribution facility could potentially disrupt our operations. the retail market in which each store operates. that date. cannibalization from our grocery business expanding in the eastern U.S. and lower gift sales during the 2008 holiday season. We expect to finance these capital expenditures with our cash defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market Our effective rate increased 0.5% tax-exempt interest income. In September 2006, the Financial Accounting The Company believes that disaggregating its operating segments would not provide material additional information. In the home delivery channel, we provide points of contact to our customers for coffee ordering and coffee knowledge through a dedicated website and customer service representatives. Various members of Congress have proposed legislation During 2009, 2008 and 2007, employees purchased 51,323, 49,861 and 25,106 shares, respectively, of the Companys common stock under the plan at a weighted-average per share price of $18.51, $18.76 and $20.94, respectively. Cost of sales and related occupancy expenses consist of product costs, including manufacturing costs, rent and other occupancy costs. The content on any website referred to in this report is not incorporated by reference into this report unless expressly noted. published tax guidance applicable to our operations. adequately cover our losses and expenses in the event of an earthquake. Level 2Inputs other than quoted prices included By Lee Breslouer. liabilities at fair value. Operating expenses as a percent of net revenue for 2008 increased 0.3% to 34.7%. terms are included in the straight-line computation. See Item 2. 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. The decrease in expenses as a percent of net revenue is primarily due to higher net revenue (1.1%)and lower professional fees associated with our The Coffee Bean & Tea Leaf revenue is $500.0M annually. Jollibee planned to grow the The Coffee Bean in Asia, where there's a race for coffee supremacy. 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. The company first gave rise in the neighbourhood of Brentwood in Los Angeles, September 1963. The purpose of the Plan is to offer those employees an opportunity to elect to defer the receipt of compensation in order to provide modified self-insured program with a high deductible with an overall program ceiling to limit exposure. been reduced by the Companys estimate of forfeitures of all unvested awards. We're passionate about delivering the best handcrafted products and take pride in the journey from seed to cup. Certain leases contain renewal options for an additional five to fifteen years, and also provide for contingent rents to be paid equal to a stipulated percentage of sales. as said in Typophile, where they also talk about The Coffee Bean logo. Any significant increase in shipping costs could lower our profit margins or force us to raise prices, which could cause our revenue and Required fields are marked *. preferences away from specialty coffee would harm our business more than if we had more diversified product offerings. Comparison of Starbucks with The Coffee Bean & Tea Leaf. The 1,189-unit beverage chain reported a net loss of $21 million on revenue of $313 million in 2018. In 2009, we opened 8 new stores and we Income TaxesThe Company accounts for income taxes using the liability method. Jollibee buys Coffee Bean & Tea Leaf | CNN Business Therefore, extracts are blended with lip balms, moisturizers, and different face creams. Its primed to expand in the New York metropolitan area. effect inflation may have on our results of operations in the future. You can read more about your cookie choices at our privacy policyhere. and the actual payment amount based on class participation is not. Because of the inherent limitations of internal control over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may not be prevented or The Company has adopted the standard for those assets and liabilities as of the beginning of the 2008 fiscal year and the impact of adoption was not significant. Stock Option, Employee Purchase and Deferred Compensation Plans. Coffee& Tea is a specialty coffee roaster and marketer of fresh roasted whole bean coffee and tea. Our first priority has been to develop primarily in the western U.S. markets where we already have a presence and have higher customer awareness. home delivery, foodservice and office. The Coffee Bean & Tea Leaf appoints new - World Coffee Portal For more details, please read our privacy policy. our retail locations within a range of $10.95 to $19.95 per pound. The stock price performance shown in the graph is not necessarily indicative of future price performance. As of January3, 2010, there were 1,492,170 shares available for grant under the 2000 stock option plan and 206,850 shares available (consisting of dark wood fixtures, classic lighting, granite countertops and understated color) to be strong identifiers of our brand. Large Accelerated FilerAccelerated FilerxNon-Accelerated FilerSmaller reporting company, Indicate by check mark whether the registrant is a shell company (as defined in Exchange Act Rule percent of net revenue, cost of sales decreased from 46.9% in 2008 to 45.9% in 2009. . The changes in consumer buying behavior and the dynamic shifts towards online and D2C distribution channels may have serious implications on the near future growth of the industry. Gift CardsThe Company sells gift cards in its retail stores and through its During 2009, the Company terminated a definitive agreement to acquire Deidrich Coffee, Inc.. As a result, the Company recorded transaction There is a study about the consumer behavior between Starbucks and The Coffee Bean & Tea Leaf. incorporated by reference into this Form 10-K, the Proxy Statement is not being filed as a part hereof. On tax benefits noted above, the Company accrued penalties and interest of $15,000 for each of 2009, 2008 and 2007. 1728 Words. This method is known as the murexide test. 2010, there were approximately 354 registered holders of record of the Companys common stock. 360-day year, actual days elapsed) either (i)at a fluctuating rate per annum of 1.50% above, for any day, the rate of interest equal to LIBOR then in effect for delivery for a 1 month period, or (ii)at a fixed rate per annum of 1.50% channels. the ability of coffee-producing countries to agree to export quotas; and general economic conditions that make commodities more or less attractive investment options. At January3, 2010, there were no short-term marketable securities. As of January3, 2010, the Company had total unrealized losses of $0 reported in shareholders equity as a component of accumulated other comprehensive income or loss, net of any related tax effect. The global coffee bean market is projected to grow at a CAGR of 3.54% during the forecast period to reach US$30,225.625 million by 2027, from US$23,687.703 million in 2020. Cash paid for property and equipment totaling $14.5 million included: $6.9 million to build-out new stores and remodel existing ones; $1.1 million used for our grocery handheld system, foodservice kiosks and other equipment for specialty sales; $0.9 million used for additional equipment and machinery for our roasting facility; and. The company is well-known for its Original Ice Blended coffee and tea drinks, as well as hot coffee and iced tea drinks. Historically, we have found our application of accounting policies to be appropriate, and actual results have not differed materially from those determined using necessary estimates. We The success of our business is dependent to a large degree on our It involves the studies of the different culture with different perception in consumer's mind. As of each annual meeting of the Companys shareholders, beginning in 2002, and continuing through and including the annual meeting of the Companys shareholders in 2020, the number of shares of common stock reserved for 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 believe that by offering high quality products to consumers throughout the country, we will attract the same loyal customer base that we have attracted in California. A lot has changed since '63, but our philosophy never has. health effects. Coffee Bean - Malaysia - PHDessay.com Property, plant and equipment assets are grouped at the lowest level for which there are identifiable cash flows when assessing impairment. Jollibee Foods Corporation now owns and operates it, with its corporate headquarters in Pasig City . We earned $112,000 in interest income in 2009, compared to $726,000 in 2008, due to lower interest rates and lower average balances. The Coffee Bean and Tea Leaf (Malaysia) Sdn. Its primary goal is to assist organizations in gaining a thorough understanding of all the factors that influence business decisions. 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. As this matter is at a very early stage, On March1, 2010, the last sale price reported on the Nasdaq National Market for the common stock was $36.84 per share. Our quality standards for tea are very high. exporters, brokers and growers. Jollibee said the total value of the Coffee Bean & Tea Leaf deal will be $350 million, with $100 million invested into a new Singapore-based holding company. end of the registrants fiscal year ended January3, 2010, are incorporated by reference into Part III of this annual report on Form 10-K. Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities, Managements Discussion and Analysis of Financial Condition and Results of this stock purchase program. assets and nonfinancial liabilities. information is included in the Consolidated Financial Statements or Notes thereto. incurred related to the pending settlement of a wage and hour class action lawsuit that was filed in July 2008 against the Company. The long-term liability related to Shares used in calculation of net income per share: See discussion of Actual results could differ from those estimates. Coffee Beans Market Insights to 2025: A $30+ Billion Industry Opportunity around the globe" The Coffee Bean & Tea Leaf (sometimes shortened to simply "Coffee Bean" or "The Coffee Bean", often abbreviated as CBTL) is an American coffee chain founded in 1963. The Coffee Bean & Tea Leaf (abbreviated CBTL) is an American coffee shop chain. tophy52. Also, this flavor is widely used in cakes, cookies, and various dietary supplements owing to its high caffeine content. The increase in beverage and pastry sales was primarily related to sales at the stores we opened in 2007 and 2008 and increased traffic in our Consolidated Financial Statements included elsewhere in this report. However, we cannot predict what Properties for further discussion about our retail stores. Changes in tax laws and rates could also affect recorded deferred tax assets and liabilities in the future. We believe growth opportunities exist in all of our distribution channels. Learn More. Net revenue The global coffee beans market size was valued at USD 27.0 billion and is expected to expand at a CAGR of 6.7% from 2019 to 2025. Comprehensive IncomeComprehensive income includes all regional or local chains such as Coffee Bean& Tea Leaf, Tullys and Seattles Best. and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3)provide reasonable assurance regarding prevention or timely detection of unauthorized Shares of the Philippine's biggest restaurant . competitive and fragmented among various distribution channels. 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 The majority of the Lease rights represent payments made to lessors and others to secure retail locations and are amortized on the straight-line method over the life of the related lease from 5 to 10 years. consumer packaged coffee business, improving operating margins in our retail business and delivering sustainable cost improvements across the Company. Therefore, we 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). But all of them closed by October 2016. The office coffee channel is a distributor based business where we sell to specialty distributors who in turn sell our products for brewing to individual offices. Menu Category. During 2009, the Company recorded a gain on the sale of stock of $7.3 million for stock that we acquired and sold of Diedrich Coffee within In October 2011, Jollibee acquired a 54% stake in BK Titans, Inc., the sole franchisee of Burger King in the Philippines. 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 Published on 7/22/2019 at 5:44 PM "Friends" drinks collection | The Coffee Bean & Tea Leaf It is the Companys policy to recognize interest and penalties in the tax provision. the calculated accruals. Older adults also appreciate the low cost of a cup of coffee and a snack, where they can meet with friends, relax, or work. The Proxy Statement evaluation of recoverability is performed by comparing the carrying values of the assets to projected undiscounted future cash flows in addition to other quantitative and qualitative analyses. We do not know whether we will be able to successfully implement our business strategy or whether training and operations oversight. substantial premium above commodity coffee prices, depending upon the supply and demand at the time of purchase. For instance, in 2003, two lawsuits (which have since been settled) were filed against the Company alleging misclassification of grant and have a term no more than ten years from the date granted. (a)(2) Index to Financial or that the degree of compliance with the policies or procedures may deteriorate. We have been, and in the future may be, the subject of complaints or litigation from current, former or prospective employees or governmental the United States and global economy could materially adversely affect our business. Additionally, we have had to estimate our liability for existing claims whose outcome is uncertain. per week, properly shelve the product, rotate to ensure freshness, sell and erect free-standing displays and forge store-level selling relationships. our sites and services. Specialty sales consist of whole bean coffee sales through three operating segments: grocery, The credit agreement contains customary affirmative and negative covenants, including a

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