Share this article

US coffee retail chain Peet’s Coffee & Tea has said it has settled a lawsuit that claimed it had failed to pay employees for working overtime.

The Emeryville, California-based company said it would record a third-quarter charge of around US$3.4m, reflecting the settlement as well as executive severance expenses.

Peet’s said it denied claims that it improperly classified some California employees as exempt from overtime pay, but said it agreed to settle in order to avoid the cost, distraction and uncertainty related to a lawsuit, reported Reuters.

The company also said it expects third-quarter sales growth of around 13%.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData