coffee bean and tea leaf annual report 2019

employees or agents deliver fresh goods to our grocery partners. primarily relate to purchases of property and equipment, and sales and maturities of 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. Learn how your comment data is processed. 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. The Company establishes an allowance for estimated doubtful accounts based on historical experience and current trends. The Arabica beans purchased by us tend to trade on a negotiated basis at a On October8, 2008, we filed an answer denying the allegations set forth in the complaint and asserting a number of affirmative defenses thereto. Gap, Inc. serving as Chief Financial Officer, Gap Brand. The introduction of new flavors and appealing packages, together with campaigns through networks and social media, are anticipated to increase the growth of the global market in the coming years. Income taxes. Company to extend the maturity date to December1, 2010, which was exercised pursuant to the terms of the credit agreement. Labor conditions in the grocery business could negatively impact our grocery business. Tenant improvement allowances are amortized as a reduction in rent expense over the term of the lease. LOS ANGELES, May 13, 2021 /PRNewswire/ -- The Coffee Bean & Tea Leaf company, one of the world's leading roasters and retailers of specialty coffee and tea, announced . our roasting plant. 243 of 250. 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. The stock price performance shown in the graph is not necessarily indicative of future price performance. President, Chief Executive Officer and Director(PrincipalExecutiveOfficer), Vice President, Chief Financial Officer andSecretary(PrincipalFinancialand Accounting 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. Under Proposition 65, the letter commenced a 60-day period during which the California Attorney General must decide whether to Except as required by law, we assume no obligation to update any forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in any forward-looking statements, even if new repairs and maintenance, supplies, training, travel and banking and card processing fees. Stores operating for at least one year contributed only. Finished goods include roasted coffee, tea, accessory 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. Currently, the Company is not a party to any other legal proceedings that management As of March1, 2010, 13,243,781 shares of registrants Common Stock were outstanding. The preparation of financial statements in conformity with generally accepted accounting principles requires the appropriate application of Adverse public or medical opinion about caffeine may harm our business. Moreover, the penetration of various pharmaceutical companies such as Novartis and Allergan is expected to fuel demand for coffee beans over the forecast period. In a disclosure to the stock exchange on Wednesday, the JFC said its wholly owned unit . We're passionate about delivering the best handcrafted products and take pride in the journey from seed to cup. These accounting policies and estimates are periodically reevaluated, and adjustments are "The Coffee Bean & Tea Leaf . When Jollibee Foods, the Philippine-based fried chicken chain acquired The Coffee Bean & Tea Leaf for $350 million in July 2019, it gave a jolt to the chain that had been stagnant for. The Company records a contingent rent liability in accounts payable The Company measures certain site you are consenting to these choices. Beginning with the period ended October1, 2006, expected stock price volatility is based on a combination of historical volatility and the implied volatility of the Companys traded options. 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 stock purchase program. two reportable segments, consisting of: Specialty sales, which consist of sales to grocery stores, foodservice and office accounts, and sales to home delivery customers. 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. Statement Schedule. Amounts drawn under the credit agreement will bear interest (computed on the basis of a Our annual report on Form 10-K, quarterly reports on Form 10-Q and current The approximate aggregate market value of the voting stock held by non-affiliates of the registrant based on the closing price and shares of These are environmental factors that can obstruct a companys growth. liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to On March1, 2010, the last sale price reported on the Nasdaq National Market for the common stock was $36.84 per share. We apply an estimated gift card breakage rate after the card has been dormant for 24 months, when based on historical information, we determine the likelihood of 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. income, net consisting of an $8.5 million break-up fee, net of $4.3 million of external professional and legal fees incurred related to the transaction. We procure coffee from 23 countries, with a large percentage of coffee coming from Central and South America, and over 30 different training and operations oversight. Construction in Key factors that are driving the market growth include growing awareness related to increasing penetration of brands such as CCD and Starbucks in India, China, and other emerging countries. If members of our management leave without effective replacements, our ability to implement our business strategy could be impaired. roaster andmarketer offresh, deep-roastedwhole bean coffeeand tea sold through multiple channels of distribution for home and away-from-home enjoyment. The weaknesses of Coffee Bean and Tea Leaf are elements that must be improved. The impact of a major earthquake faults in the San Francisco Bay area on our facilities, infrastructure and overall operations is difficult to predict, and an earthquake could seriously disrupt our entire business. accepted accounting principles. Many coffee products, as well as other items, are available in cans and boxes in stores & markets and can be purchased in a matter of seconds. Jollibee Foods invested in Coffee Bean & Tea Leaf's Acquired funding round. (Diedrich). We have identified the following critical accounting policies: Impairment of long-lived assets. Sales from beverages and pastries increased 6.7% to $142.8 million. Since we only roast our coffee to order, we do not carry inventory of roasted coffee in We're passionate about delivering the best handcrafted products and take pride in the journey from seed to cup. Corporation is the largest competitor in the category. percent of net revenue, cost of sales decreased from 46.9% in 2008 to 45.9% in 2009. to significant volatility and can be affected by multiple factors in the producing countries, including weather, political and economic conditions. such changes that would have a material effect on the Companys results of operations, cash flows or financial position. securities law claims, commercial disputes, and disputes relating to intellectual property. adequately cover our losses and expenses in the event of an earthquake. We do not expect our unrecognized tax benefits to change significantly over the next 12 months. Peets DSD route sales representatives deliver directly to their stores anywhere between one to four times end of each period for the estimated expenses incurred, but unpaid for these programs. Long-lived assets to be disposed of are reported at the lower of their carrying amount or fair value, less estimated costs to sell. So, lets look at some of Coffee Bean & Tea Leafs major weaknesses: The master franchisees are not permitted to sub-franchise any of their outlets. December16, 2009, we 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 success of our business is dependent to a large degree on our grant and have a term no more than ten years from the date granted. $12,449,000 for 2009, 2008 and 2007, respectively, including contingent rents of $113,000, $123,000 and $120,000, respectively. provides for the automatic grant of nonstatutory stock options to purchase shares of common stock to non-employee directors, which is administered by the Board of Directors. growth in net revenue in grocery was due to increased share in existing markets and to a lesser extent, to new stores added during the year and the introduction of Godiva coffee in the fourth quarter. Asked what differentiates Coffee Bean & Tea Leaf from competitors such as Starbucks, Gregorys Coffee, and Joe Coffee, Vavra replies, We offer a genuine guest experience. We are indifferent as to where consumers purchase our coffees and teas, and believe that our specialty and retail segments are synergistic. The slower growth in whole bean and related products was primarily due to continuing cannibalization of bean sales in retail stores as we increased the availability of Peets coffee in grocery stores and our own new retail A So, lets take a look at the opportunities Coffee Bean & Tea Leaf has to produce outstanding results. 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 Realized gains and losses are determined on the Every other coffee item has a substitute product, which poses a significant threat to such cafes. Advertising costsAdvertising costs are expensed as incurred. Full name: The Coffee Bean & Tea Leaf (Malaysia) Sdn. Therefore, we do not anticipate paying cash dividends on our common stock in the web site. 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, delivery, and office and restaurant accounts throughout the United States. These products are carefully selected for quality and uniqueness. In 2008, we also completed the design and products. substantial premium above commodity coffee prices, depending upon the supply and demand at the time of purchase. square foot building with related site improvements in Alameda, California for the purpose of operating a new roasting and distribution facility. Net revenue includes an allowance for grocery sales returns for coffee exceeding our. 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 In addition to registered and value. Jollibee has a dedicated. During 2009, proceeds from sales and maturities net of purchases totaled $15.8 million, including $7.7 million of Diedrich common stock. Smucker), Seattles Best (Starbucks), Tullys and Dunkin Donuts as well as numerous smaller, regional brands. 2010, total unrecognized stock-based compensation expense related to nonvested stock options was approximately $4.9 million, which is expected to be recognized over a weighted average period of approximately 30 months. Approximately $6 million 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. Showing its resurgence, it recently debuted a new Coffee Tea & Bean outlet in the thriving Fort Greene area of Brooklyn on August 28, 2020. year. Any significant increase in shipping costs could lower our profit margins or force us to raise prices, which could cause our revenue and 2010, there were approximately 354 registered holders of record of the Companys common stock. Our regular menu coffees are currently priced in stock option exercises. The Company was not required to measure any other significant non-financial assets and COFFEE & TEA, INC. (Exact Name of Registrant as Specified in Its Charter) 1400 Park Avenue Emeryville, California 94608-3520 (Address of Principal Executive Offices)(Zip Code) (510) 594-2100 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section

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