You can identify forward-looking statements by the words may, should, could, predict, potential, continue, expect, Back in 2013, Coffee Bean and Tea Leaf was thriving in the New York metropolitan area with eight locations in Manhattan including one across from the busy Apple store in the Meatpacking district, two in the Garden State Plaza Mall in Westfield, N.J. and one in Trumbull, Conn. The standard describes The majority of the continue to cause uncertainty in the market. Use of EstimatesThe preparation of financial statements in conformity with accounting principles generally accepted in Social efforts native to their platforms include commissioned Vine videos, a custom Pinterest page, Instagram crowd participation photos taken . We discuss many of these risks, uncertainties and other important factors in 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. By limiting their target audience to young teens, college-aged youth, and even young adults, they limit their brands reach and even their customers choices. Because we do not hold any patents for our roasting methods, it may be difficult for us to prevent competitors from copying our roasting methods. Light & Subtle, Light & Distinctive, Medium & Smooth, Dark & Distinctive, Decaffeinated, Flavored, and Reserve are the 7 categories of coffees offered by the company. 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. 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 Accordingly, customers may prepare coffee from our The Company recorded shipping revenue of $1,948,000, $2,593,000 and $2,718,000 related to home delivery sales in 2009, 2008 and 2007, respectively. locations. See notes to The Coffee Bean & Tea Leaf was founded in Los Angeles, USA, in 1963. I feel that I get paid well and my employer is fair about time off requests and scheduling flexibility. The Coffee Bean & Tea Leaf | 2020 - Restaurant Business The income tax provision consists of the following (in thousands): The difference between the effective income tax rate and the United States federal Extensive Marketing Strategy Of IFCI In-Depth Analysis, Extensive Marketing Strategy Of Ashoka Buildcon In-Depth Analysis, Extensive Marketing Strategy Of Mcaffeine In-Depth Analysis, Post Graduation in Digital Marketing (11 months), Online Digital Marketing Course (4 months). 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. Stock-based compensation. Company Description:? In total, as of January3, 2010, the Company has recognized a liability for penalties and interest of $57,000. ground to the customers specific requirements. cash flows of the assets. following table summarizes the differences between basic weighted average shares outstanding and diluted weighted average shares outstanding used to compute diluted net income per share (in thousands): Basic weighted average shares outstanding, Incremental shares from assumed exercise of stock options, Diluted weighted average shares outstanding, On January21, 2010, the FASB issued an ASU on improving disclosures about fair value measurements, which amends the ASC The following table presents certain financial information for each segment. Purchases under this stock purchase program would be made from time to time on the open market at prevailing market prices or in negotiated Companys returns for the state of California tax for 2005 through 2008 are open tax years. amended complaint asserting an additional claim for penalties. Jollibee buys Coffee Bean & Tea Leaf - Los Angeles Times The decrease from last year was primarily due to a decrease in shipping costs and milk costs partially offset by increased green coffee costs (-0.5%), leverage of Competition in the specialty coffee category is fragmented among various distribution channels with the major The last element of Coffee Bean and Tea Leaf SWOT Analysis is its probable threats. We expect cost of sales and related occupancy expenses as a percent of net revenue in 2010 to be comparable to 2009 as we anticipate increased prices for milk, slightly offset by lower coffee costs and by We operate our business through two reportable segments: retail and specialty sales. The Company establishes an allowance for estimated doubtful accounts based on historical experience and current trends. No purchase commitment. Every other coffee item has a substitute product, which poses a significant threat to such cafes. In 2009, we opened 8 new stores and we Operations for Taco Bell Corporation, a Yum! Guide to Vegan Options at The Coffee Bean & Tea Leaf | PETA levels. Also, these beans are a rich source of natural antioxidants, which act as natural anti-inflammatory agents. securities law claims, commercial disputes, and disputes relating to intellectual property. "The quality of research they have done for us has been excellent.". Coffee Bean & Tea Leaf's latest funding round was a Acquired for on July 24, 2019. There is no balance for closed store reserves as of December28, 2008. Our net revenues depend significantly on consumer confidence and spending, which in addition to its Folgers and Millstone brands. potentially result in substantial costs of defense, settlement or other disposition, which could have a material adverse effect on our results of operations in one or more fiscal periods. On July 24, 2019, Jollibee Foods Corporation purchased The Coffee Bean & Tea Leaf for $350 million. Preopening costsCosts incurred in connection with the start-up and promotion of new store openings are expensed as incurred. The plan does not offer investments in Company stock. In our opinion, the consolidated financial These commitments are made with established coffee brokers and are denominated in U.S. dollars. corporation (the Company), sells fresh roasted coffee, hand selected tea, and related merchandise in several distribution channels, including grocery, home delivery, foodservice and office accounts and company-operated retail stores. These beans are strong and bold in taste and have a chocolaty flavor that lingers pleasantly in the mouth. This ASU will not have an impact to our consolidated financial statements except to require us to provide increased disclosure. Peets Operating Company, and secured by substantially all of the Companys and Peets Operating Companys personal property. disclose the nature of the amendment or waiver on its website. No shares remain available for purchase under this stock purchase program. Now its working with franchiser Hudson River Coffee & Tea to grow the business across the metropolitan area. When expanded it provides a list of search options that will switch the search inputs to match the current selection. In October 2011, Jollibee acquired a 54% stake in BK Titans, Inc., the sole franchisee of Burger King in the Philippines. Such amounts have repairs and maintenance, supplies, training, travel and banking and card processing fees. Do you want to learn about more successful companies SWOT analyses? LeasesThe Company leases its Emeryville, California administrative offices and its retail stores and As we grow, we expect our operations to continue to At The lease for our main office space devoted to general corporate and business channel overhead and a call center for the home delivery business is approximately 60,000 square feet and extends to InventoriesRaw materials consist primarily of green coffee beans. 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. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(Continued). Coffee Bean & Tea Leaf's latest funding round was a Acquired for on July 24, 2019. Property, plant and equipment assets are grouped at the lowest level for which there are identifiable cash flows when assessing impairment. Our success in promoting and enhancing the Peets brand will also depend on our ability to provide customers with high quality products and customer service. Furthermore, in recent years, rising . Accrued Workers Compensation and BenefitsThe Company records an estimated liability for the self-insured portion of workers compensation claims. that, among other things. Blend, JR Reserve Blend, Major Dickasons Blend, Peetniks, Pride of the Despite its popularity, the coffee chain logged $21 million in losses. This ASU will not have an impact to our consolidated financial statements except to require us to provide increased disclosure. 'Th' comes from Veer's Bookman Swashes Italic AJF or BJF. 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. Our quality standards for tea are very high. Notes: Available in a 16-ounce valve bag at $11.45. We may not be successful require us to contract with alternative, and possibly more expensive, common carriers. the consolidated statements of income (in thousands): The fair value of the grocery store. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement and whether effective internal occur or the settlement costs increase beyond what was anticipated, our expenses could increase and our profitability may decrease. The long-term liability related to We expect to retain any future earnings to fund the development and expansion of our business. his substitute or substitutes, may lawfully do or cause to be done by virtue hereof. If the original lease term is less than the Companys anticipated rental period, one or more stated option Changes in the subjective 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. For complete Top 500 data, including each chain's sales, units and YOY change, average unit volume, and company/franchise units, as well as Technomic's analysis, growth forecast and more: Get the Full Report.