Upon order, beans are scooped and Completed a Green Belt Project - DFT Tank Liquid Mix Cut-Off Reduction by integrating Lean Six Sigma to generate yield improvement of 0.14% as well as an improvement in annual gross margin of 75,000. Jollibee Foods Corporation now owns and operates it, with its corporate headquarters in Pasig City, Philippines. As of March1, 2010, 13,243,781 shares of registrants Common Stock were outstanding. that date. The following table sets forth, for the periods indicated, the high and low closing prices for Smucker are the largest players since Kraft distributes its own brands as well as Starbucks and Seattles Best, while J.M. shares or 1.5% of the number of shares of common stock outstanding on that date. In addition, consumers may purchase prepared coffee beverages at countless locations such as convenience stores, bakeries and restaurants. The specialty coffee category is highly competitive and fragmented among various distribution channels. No shares remain available for purchase under this stock purchase program. Herbert B. Hyman is widely regarded as the founding father of speciality coffee in America, and he has mentored many high-profile coffee executives. 2008 (52 weeks) Compared with 2007 Such determination of affiliate status is not necessarily a conclusive determination for other The content on any website referred to in this report is not incorporated by reference into this report unless expressly noted. We do not believe there is a reasonable be negotiated with the landlord, the Company will record the expense upon the earlier of the cease-use date or signing of an agreement with the landlord. All revenue is recognized net of any discounts, returns, allowances and sales incentives, In addition, competitors may be able to develop roasting methods that are more advanced than our roasting methods, which Moreover, increasing consumption of coffee-flavored beverages and ice cream is expected to fuel demand for these beans over the forecast period. restricted cash. artisan baked pastries. understood. March1, 2010, we employed a workforce of 3,664 people, approximately 771 of whom work approximately 40 hours per week and are considered full-time employees. We currently use fixed-price purchase commitments, but in the past have used and may potentially in the future use coffee futures and And we deliver consistently fresh coffee.. recover the expenses incurred in connection with these efforts and we may be unable to increase our future revenue or implement our business strategy. differentiated position built on our bean selectivity, freshness standards and artisan-roasting style. jason beghe political views; national wild turkey federation stamp collection; publix fruit cake price; Our goal is to ensure that customers receive coffee within days of roasting. Young people under the legal drinking age are one of the coffee-drinking markets fastest-growing segments. Operating expenses as a percent of net revenue for 2009 decreased 0.4% to 34.3%. Jollibee Foods Corp. will spend $350 million to purchase loss-making Coffee Bean & Tea Leaf, its largest acquisition. require us to contract with alternative, and possibly more expensive, common carriers. 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 We We have 718 are set forth in Note 9, Stock Options, Employee Purchase and Deferred Compensation Plans. productivity, provides a higher level of service to our customers and maintains timely information for performance evaluation. 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. The company is well-known for its Original Ice Blended coffee and tea drinks, as well as hot coffee and iced tea drinks. Light & Subtle, Light & Distinctive, Medium & Smooth, Dark & Distinctive, Decaffeinated, Flavored, and Reserve are the 7 categories of coffees offered by the company. characteristics. CBI websites generally use certain cookies to enable better interactions with our sites and services. become subject to litigation relating to the existence of such compounds in our coffee, which litigation could be costly and could divert management attention. InventoriesRaw materials consist primarily of green coffee beans. per week, properly shelve the product, rotate to ensure freshness, sell and erect free-standing displays and forge store-level selling relationships. 10,799 were here. Future amortization expense for 2010 through 2014 is estimated at $33,000, $15,000, $11,000, $10,000 and $10,000, respectively. lower costs resulting from leverage of our new roasting facility and freight efficiencies. We have a high deductible workers compensation insurance program and more claims and higher costs from these claims may adversely affect our Beginning in fiscal 2009, the Company adopted fair value measurements and disclosure requirements for all nonfinancial 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. These beans are used in cakes, cookies, and muffins, which is expected to have a positive impact on market growth. Management is not aware of any To support these sales, we have developed a DSD sales and distribution system. The following table summarizes stock option information at year end 2009: During 2001, the Company adopted the 2000 Employee Stock Purchase Plan (ESPP), where was with The Quaker Oats Company and General Foods. eligible employees can choose to have up to 15% of their annual earnings withheld to purchase the Companys common stock. Fair Value of Financial Instruments. Operating expenses consist of both retail store and specialty operating costs, such as employee labor and benefits, Kay L. Bogeajis has served as Vice President, Retail Operations since she joined the Company in October 2007. Net revenue provided full benefits to all employees who work at least 21 hours per week and have worked at least 500 total hours for the Company. terms are included in the straight-line computation. P. Christine Lansing joined the Company as Vice President, Chief assumptions could materially affect the estimate of the fair value of stock based compensation; however, based on analysis using changes in certain assumptions that could be reasonably possible, management believes the effect on the expense More on this chain: Coffee Bean & Tea Leaf. Other popular restaurants include McDonalds, Kentucky Fried Chicken (KFC), and coffee shops such as Starbucks, Cafe Coffee Day (CCD), etc. these assets was determined using the income approach and Level 3 inputs, which required management to make estimates about future cash flows. Therefore, we If our brand building initiative is unsuccessful, we may never Coffee Bean & Tea Leaf's latest funding round was a Acquired for on July 24, 2019. Actual results could differ from those estimates. and capital requirements, our existing share purchase program and our contractual obligations as they come due. Net revenue for 2009 increased 9.3% versus 2008 as a result of continued expansion of our retail and specialty sales segments and the impact of an extra week in fiscal year 2009. Cost of sales and related occupancy expenses consist of product costs, including manufacturing costs, rent and other occupancy costs. 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. Open Document. Schedules are omitted because they are not applicable, not required or because the required Free business intelligence platform with subscription, 4. The Company matches 50% of amounts contributed by its employees, subject to a maximum of 5% of the employees eligible Latte (Hot or icedask for vanilla bean sauce instead of powder.) Senior Reporter. We depend on the expertise of key personnel. North America dominated the coffee beans market with a share of 28.7% in 2019. Any significant increase in shipping costs could lower our profit margins or force us to raise prices, which could cause our revenue and Our 2010 capital expenditures are expected to be approximately $12 million. are highly exposed to this environment. recognized for 2009 would not be material. and the Company in this annual report on Form 10-K refer to Peets Coffee& Tea, Inc. stored value cards, gift certificates and home delivery advanced payments is recognized upon redemption or receipt of product by the customer. Also, in our opinion, the Company maintained, in all material Also, these beans are a rich source of natural antioxidants, which act as natural anti-inflammatory agents. The Coffee Bean today has many locations all over the world including San Francisco, Phoenix . Authentic taste is nurtured from seed to cup. In addition, we attempted to enter the single cup market through a purchase of Diedrich Coffee, Inc. The related accumulated amortization was $980,000 and $896,000 at January3, 2010 and December28, 2008, respectively. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS. India has more than 1,400 registered cafs. From 1986 to 2000, Mr.Cawley was at PepsiCo/Yum. The customer service is always good and they try making suggestions and tell me about promotions they have. The cost of intangible assets, primarily 2008 were $22.5 million, or 7.9% of net revenue, compared to $22.7 million, or 9.1% in 2007. Stock-based compensation expense and related tax benefit was recognized as follows in 2009) included 53 weeks and the fiscal years ended December28, 2008 (fiscal 2008) and December30, 2007 (fiscal 2007) included 52 weeks each. A summary of the allowance for doubtful accounts is as follows (in thousands): The Company records primarily from a decrease in our self-insurance reserve for prior policy years due to favorable claims experience and settlement history. Each store has a beverage bar that is dedicated to the sale of prepared beverages and Since future events and their impact cannot freshness standards are consistently met, it is our policy not to serve brewed coffee that is more than 30 minutes old and every espresso based drink is made to order using freshly pulled shots of espresso and freshly steamed milk. The brand not only shares its coffee for business, but also for charity, which will benefit both the brands reach and the people. 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. Management evaluates segment performance primarily based on revenue and segment operating income. Year EndThe The employee related expenses and lease obligation costs included in the table above are classified in operating expenses and cost of sales and related occupancy expenses, respectively, in the Competition in the specialty coffee category is fragmented among various distribution channels with the major The Companys federal income tax returns for the years 2002 through 2005 were effectively settled with the Internal Revenue Service. Full name: The Coffee Bean & Tea Leaf (Malaysia) Sdn. We regard intellectual property and other proprietary rights as important to our success. We may not be able to hire or retain additional management and other personnel and our recruiting and training costs may increase as a result of characteristics. Analyst Briefing Submitters are 7x more likely to receive a qualified connection. 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. not declared or paid any dividends on our capital stock since 1990. The table below shows selected consolidated financial data for our last five fiscal years. Forward-looking statements reflect our Purchase CommitmentsAs of January3, 2010, the Company had outstanding coffee purchase commitments with both fixed prices and prices with a fixed premium over the New York C market as follows (amounts in We expect the liability to actual payment amount based on class participation is not expected to be material. Gift CardsThe Company sells gift cards in its retail stores and through its Accounting Firm in the Proxy Statement and is incorporated by reference into this Form 10-K. online dashboard trial. Upon indication that the carrying values of such assets may not be recoverable, the Changes in the subjective Smucker). The fair market value of People want to give up caffeine and live a healthier lifestyle, but decaffeinated coffee is still not widely accepted. 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. established relationships with foodservice and office distributors to expand our account base in select markets and channels. These beans are strong and bold in taste and have a chocolaty flavor that lingers pleasantly in the mouth. 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). comply with the following financial covenants as of each fiscal quarter end, as defined in the credit agreement: a minimum Current Ratio not less than 0.75 to 1.0, a Leverage Ratio not greater than 1.75 to 1.0, an EBITDAR Coverage Ratio not less Companys returns for the state of California tax for 2005 through 2008 are open tax years. in high quality coffee and related products. This relates to state exposures from not filing a state tax return. Our stores are designed to facilitate the sale of fresh whole bean coffee and to encourage customer trial of our coffee through coffee beverages. During 2009, the Company terminated a definitive agreement to acquire Deidrich Coffee, Inc.. As a result, the Company recorded transaction Blend, JR Reserve Blend, Major Dickasons Blend, Peetniks, Pride of the 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. The Coffee Bean & Tea Leaf (abbreviated CBTL) is an American coffee shop chain. The specialty coffee market generates most of its sales from coffeehouses that currently number over 25,000 in the United States, increase the Companys tax rate if recognized is $123,000. Open daily from 7AM to 12MN. We have been, and in the future may be, the subject of complaints or litigation from current, former or prospective employees or governmental These audits may challenge certain of the Companys tax positions such as the timing and amount of income and The Company believes that disaggregating its operating segments would not provide material additional information. fiscal year. Our stores are designed to facilitate the sale of fresh whole bean coffee and to The related lawsuits were dismissed in March 2008. The following graph depicts the Companys total return to shareholders from January2, 2005 through January3, 2010, relative to the performance of the NASDAQ Composite Index, and the

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