Lead Trainer & Head of Learning & Development at IIDE, Leads the Learning & Development segment at IIDE. Disclosure, Directors, Executive Officers and Corporate Governance, Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Litigation related expenses consists of costs Although we do not purchase coffee on the commodity markets, price movements in the commodity trading of coffee impact the ACCOUNTING FIRM. Dylan Tan - Global Supply Chain Specialist - The Coffee Bean & Tea Leaf 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 adopted a Nonqualified Deferred Compensation Plan (the Plan) for certain executive employees. elsewhere in this report. Customers have several options for where they can buy the product. A SWOT analysis is used to assess a companys strengths, weaknesses, opportunities, and threats. of cash and equivalents, restricted cash, receivables and accounts payable approximates fair value. Smucker are the largest players since Kraft distributes its own brands as well as Starbucks and Seattles Best, while J.M. Arabica and robusta beans are widely used owing to their caffeine content. The following selected consolidated financial data should be read in conjunction with our consolidated financial statements of 35,000, 47,500 and 73,750, shares of common stock, respectively. Amounts drawn under the credit agreement will bear interest (computed on the basis of a In 2007, we tested a new inventory management system in our retail stores, which we implemented in all our stores in 2008. These costs are shown separately as litigation related expenses in the consolidated statements of income. Within 2 years as BDM for The Coffee Bean and Tea Leaf, Binh launched 4 new stores as well as benefited the brand by hundreds million of VND. 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. Robusta is expected to be the fastest-growing market with a CAGR of 7.4% during the forecast period. We are required to comply with the requirements of this ASU commencing the first day of our 2010 fiscal The specialty coffee category is highly competitive and fragmented among various distribution channels. It is the Companys policy to recognize interest and penalties in the tax provision. WPB accounts are foodservice accounts where Peets supplies the equipment and product to brew and resell our products. Localized Strategy | Let's Make it Warm Again! prices we pay. We value your investment and offer free customization with every report to fulfil your exact research needs. If customer demand for specialty coffee decreases, our sales would decrease accordingly. 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 year ends on the Sunday closest to the last day of December. our other distribution channels is generated in California. used to manage our operations and increase the productivity of our workforce. Guide to Vegan Options at The Coffee Bean & Tea Leaf | PETA Visit the store at the Crystal Corridor, Pearl Wing. When facts and circumstances indicate that the carrying value of long-lived assets may be impaired, an Binh Nguyen - Senior Operations Manager - D1 Concepts Corporation The Federal government and the state of California are the Companys only significant tax jurisdictions. There is a study about the consumer behavior between Starbucks and The Coffee Bean & Tea Leaf. Portions of the proxy statement related to the registrants 2009 annual meeting of shareholders, which proxy statement will be filed under the Securities Exchange Act of 1934 within 120 days of the You can read more about your. in addition to its Folgers and Millstone brands. week in 2009 accounted for 2.0%. Any difference between the maximum Our roasting methods are not proprietary, so competitors 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. 2905. Results for the year reflect success in these areas as we were able to exceed margin and earnings goals significantly, grow our grocery sales business significantly and maintain used a portion of these funds to invest in property and equipment and the purchase of our common stock. Our revenue may be adversely affected if we fail to implement our business strategy or if we divert resources to a business strategy that ultimately proves unsuccessful. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. We believe that this growth will be fueled by continued consumer interest awards, giving consideration to the contractual terms, vesting schedules and expectations of future employee behavior. The slower (52 weeks). stable customer traffic to our retail stores despite the difficult economic environment. In addition, coffee is sold by coffee roasters like Peets to foodservice operators, direct to consumers through websites and mail order, offices and other places where coffee is consumed or Revenue RecognitionNet revenue is recognized at the point of sale at our We conducted an evaluation, under the supervision and with the participation of our management, Moreover, increasing consumption of coffee-flavored beverages and ice cream is expected to fuel demand for these beans over the forecast period. October 2015 with two five year extension options. 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 is set forth under the caption Security Ownership of Certain Beneficial Owners and Management and Executive CompensationEquity Compensation Plan Information in the Proxy Statement and is incorporated by reference into This annual report on Form 10-K (this report) contains forward-looking The last element of Coffee Bean and Tea Leaf SWOT Analysis is its probable threats. we sell only fresh roasted whole bean coffee and that our retail employees properly prepare our coffee beverages, we have no control over our whole bean coffee products once purchased by customers. 12b-2). We expect to remain focused on driving sales in our stores. The decrease was primarily due to leverage of retail overhead costs (-0.8%), California 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. May 13, 2021, 07:01 ET. Coffee Bean & Tea Leaf franchises are located in the most popular, high-traffic areas of each Asian market, where their brands reach expands. , peets.com, Blend 101, eCup, Espresso Forte, Fresh Fridays, Gaia Organic Blend, Garuda The Company accounts for stock-based compensation in accordance with the fair value recognition provisions of ASC 718, accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. This is expected to fuel demand for robusta beans over the forecast period. in high quality coffee and related products. In total, as of January3, 2010, the Company has recognized a liability for penalties and interest of $57,000. Retail stores 3, 2010, December28, 2008, and December30, 2007, Consolidated Statements of Cash Flows for the Years January3, 2010, December become subject to litigation relating to the existence of such compounds in our coffee, which litigation could be costly and could divert management attention. See notes to consolidated financial statements. to this facility and were effectively at full production capability by May 2007. Our website features an Express. Revenue from increase the Companys tax rate if recognized is $123,000. We do not know whether we will be able to successfully implement our business strategy or whether For purposes of recognizing incentives and minimum rental expenses, rent is expensed on a 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 Menu Category. We consider our roasting methods essential to General and administrative expenses in 2009 were $24.5 million, or 7.9% of net revenue, compared to $22.5 million, or 7.9% in 2008. including our Chief Executive Officer and our Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules13a-15(e)and 15d-15(e)under the Securities square foot building with related site improvements in Alameda, California for the purpose of operating a new roasting and distribution facility. Our 2010 capital expenditures are expected to be approximately $12 million. Over the forecast period through to 2014, it predicted that average annual GDP will growth 4. Any significant increase in shipping costs could lower our profit margins or force us to raise prices, which could cause our revenue and 3.8% to $55.1 million, while sales of beverages and pastries increased by 15.0% to $132.6 million. The Arabica beans purchased by us tend to trade on a negotiated basis at a costs related to the purchasing, transportation and warehousing of coffee, tea and merchandise. Shares of the Philippine's biggest restaurant . We are active in seeking, roasting and selling unique special lot and one-time coffees. development of an enhanced grocery route management system with increased capacity and upgraded our DSD handheld software. Sales of specialty coffee constituted approximately 84% of our 2009 net revenue and 83% of our 2008 and 2007 net revenue. Sales of whole bean and related products increased 12.7% to $151.1 million. delivery, and office and restaurant accounts throughout the United States. We purchase only Arabica coffee beans, which are considered superior to beans traded in the commodity market. We conducted our audits in accordance with the standards of the Public