"Everything that was said just started to add up. We will simultaneously publish a management commentary on our website. Just wanted to confirm if that's still the case. He does point out, somewhere in the beginning, that wine does grow in the most beautiful regions of the world, so in some ways, he's got it made. For some reason, Wise thinks it adds immensely to the experience if, at every opportunity, some guy opens an extremely rare bottle of wine, mentions how rare it is, then drinks it and contorts his face in ecstasy. But now that the product has been on shelf for effectively a quarter, has there been any change in sort of behavior or attitude from the sales force members now that they are, in a sense, competing with Target? StarringSilvia Altare Ian Cauble Fred Dame Aubert De Villaine Geoff Kruth Directed byJason Wise But can you just speak to your confidence in remaining in compliance with that and perhaps touch on some of the assumptions you have for the business that kind of underpins that confidence? During this call, we'll discuss certain non-GAAP measures, including those we refer to as normalized measures. Danish (Subtitled), Dutch (Subtitled), Finnish (Subtitled), French (Subtitled), German (Subtitled), Italian (Subtitled), Norwegian (Subtitled), Portuguese (Brazil) (Subtitled), Portuguese (Portugal) (Subtitled), Simplified Chinese (Subtitled), Spanish (Subtitled), Spanish (Spain) (Subtitled), Swedish (Subtitled), Traditional Chinese (Subtitled). The regular bottle goes for about $12K. We feel that we're already protecting our margin. The movie begins in the San Francisco Bay Area briefly touching on the history of wine and the existence of the prestigious Master Sommelier exam. I THINK ITS GREAT. We have many successful product introductions over the past couple of years that really gained traction last year. The film takes a look at how history has impacted wine, from the Romans, to Prohibition, to the World Wars and even current events such as the Napa Earthquake. Good morning. And in fairness, each chapter contains some really interesting stories. They took a closer look. Linda Bolton-Weiser -- D.A. First, increase financial flexibility. DONNA MOORE WAS WATCHING. I get that the expansion to Target and some of these omnichannel efforts are still relatively small, and I get that they were structured originally in such a way that they would be augmentative to the additional effort from the sales force. I will now turn the call over to Miguel Fernandez for closing remarks. By opening some of the worlds most rare bottles of wine, the viewer will understand how a wine ages, what happens in a cellar and exactly what oak in wine means. We have a plan to continue to produce EBITDA in this company and better EBITDA than the past year of 2022, plus cash generation from our working capital management, as well as our engineering plans that will produce near benefits in the years to come as we continue to rightsize this company and place Tupperware products in all the channels where consumers look for them. I CRAZY EASY FOR JOE. And clearly, with the amendment, you've got a little bit more breathing room over the coming years. The history, the vintage, and the magic of these bottles are discussed by the best in the business. From those questions to how many hands touch a bottle, to why wine costs what it costs, to how certain wines end up on a wine list, this is a never before seen look into the world of wine. Tupperware Brands (TUP) Q3 2022 Earnings Call Transcript, Why Tupperware Brands Soared 19% Higher Today, Why Tupperware Brands Stock Jumped 30% on Wednesday, Tupperware Brands (TUP) Q2 2022 Earnings Call Transcript, Why Tupperware Stock Blasted 16% Higher Today, 2 FAANG Stocks Billionaires Are Selling in Droves and 1 They Can't Stop Buying, Why Virgin Galactic Stock Crashed This Morning, 3 Stocks That Could Join Apple, Microsoft, and Alphabet in the $1 Trillion Club, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. So the way it was designed before was that every time we grew, our variable costs grew just as much, so we couldn't capitalize on the growth in terms of bottom line. Fifty years ago. "They were bouncing up and down on the chairs. ", "Film Review Somm: Into the Bottle | Wine-Searcher News & Features", https://en.wikipedia.org/w/index.php?title=Somm:_Into_the_Bottle&oldid=1072669482, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 18 February 2022, at 22:21. It would also allow us to jump right into Q&A on the call after brief introductory remarks. Thus, America sales increased 10% in local currency, driven primarily by Argentina, from a larger total and active sales force, including from higher retention, higher productivity, as well as higher prices due to inflation. Nothing seems longer and more impressive than a bottle of 1870 Lafite , which is one of the 4 original estates to receive Bordeaux 1st growth classification in 1855 (just 15 short years before). [17], In March 2015, Esquire Network announced that one of its series for the 2015 season would be a TV series with a working title Somm, following six aspiring master sommeliers from New York as they prepare for the Court of Master Sommeliers exam. The film was distributed by Samuel Goldwyn Films. //]]> To learn more about how and for what purposes Amazon uses personal information (such as Prime Video Watch History), see our Privacy Notice. As far as the tax rate, obviously, was elevated, what's kind of the right way to think about the tax rate for 2023? Thank you. Sales in the U.S. were down 19% in 2022, and Mexico was down 7%. Silvia Altare talks about how her dad changed their future with oak. In this way it is far more invested in everything wine than the first film, which was often more a foil for exploring ideas of passion, obsession, and what people do to excel whatever the field. OK. And then I think in the past, Mariela, maybe you had mentioned or talked about a little bit like some IT investments in things like that that needed to be done in the company. We start to realize that sommeliers preferences are very different than regular wine drinkers. Rowald Hepp gingerly touches a pamphlet from 1492 in the library at Schloss Vollrads in Rheingau, Schloss Vollrads (in Rheingau, Germany) has been making wine since 1200 and has produced 800 vintages. SOMM: Into the Bottle 2015 1 h 30 m IMDb RATING 7.3 /10 1.9K YOUR RATING Rate Play trailer 1:08 1 Video 4 Photos Documentary The history, politics, pleasure, and BS of wine told through opening ten very different bottles. Donna Moore, of York County, was watching. Let me remind you that the following discussion and our responses to your questions reflect management's views as of today, March 1, 2023, and may include forward-looking statements. So first, wanted to see if you guys can talk about China. Unfortunately, just as Wise's interrogation of the sommeliers in the first film rang dead, so too do these. It was a . As an Amazon Associate, we earn from qualifying purchases. And if I can complement with the numbers, we ended the quarter with $250 million of inventory, which was down for about $230 million a year ago, and the trend continues to repeat. Yes. I'd like to start on the inventory side. I'll pass it. Thanks, Mariela. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. It was Bernard Moore," Christa Moore Wire said. Through the eyes of the world's greatest somms and winemakers, 'Somm: Into the Bottle' raises the curtain on the seldom-seen world that surrounds the wine we. First of all, the Nazis bombed many of the vineyards and wineries. Thanks for that. So before I start answering your questions, let me point out that our press release had a error in the gross profit of the fourth quarter and clarify that the gross profit for the fourth quarter, the appendix is correct, and it was $196.5 million for this quarter, and it was $240 million for the year ago. Having winemakers and sommeliers opening ultra-rare bottles like a 2004 Domaine de la Romanee-Conti called DRC, natch or a 1969 Hermitage or the legendary 1962 Penfolds Bin 60A Coonawarra Cabernet Sauvignon Barossa Shiraz is neat party trick, I suppose, but it reads like Wise just beating on his chest. The change in interest expense is related to a slight decrease in the company borrowing as well as a decrease of six percentage points in the interest rate of the term loans as a result of the debt refinancing in late 2021. It was Bernard Moore," Christa Moore Wire said.They took a closer look. I mean some of them obviously grow more than other ones. He's launching some project called Viticole this year. MY NAMES LEONARD MOORE. Our trailing 12-month bank covenant leverage ratio was 4.9, within our recently amended maximum leverage ratio for the fourth quarter of 5.25. official plot version from samuelgoldwynfilms.com. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. This is a sommeliers wine. 'SOMM: Into the Bottle' brings viewers a rare and never before seen glimpse inside the private world of both famed and cult winemakers, such as Jean Louis Chave, Aubert de Villaine (Domaine Romanee-Conti), and Robert Mondavi. Filmmaker Jason Wise added: SOMM was a great introduction into the world of Sommeliers but I still wanted to delve deeper into the profession and the wine industry as a whole, one of the most complex and oldest businesses in the world. Yes. We took even a double-digit price increase in countries that we've never -- we haven't taken a price increase in 10 years. With the elimination of the virtual kits, we expect the pendulum to gradually swing back to business builders. So sit back, open a bottle and enjoy as we take you "into the bottle" and back again. "Somm: Into the Bottle" brings viewers a rare and never before seen glimpse inside the private world of both famed and cult winemakers, such as Jean Louis Chave, Aubert de Villaine (Domaine Romanee-Conti), and Robert Mondavi. Additional foreign currency was at $0.81 per share hit to EPS for the year. While still small, B2B sales grew strongly in the double digits in China last year despite difficult conditions out there, and we look for another strong year in 2023. This is Miguel. [4] The chapters include The Winemaker, The Vintage, The History, The Wars, The New World, The Cost, The Barrels, The Point Scores, The Sommelier, and The Memory. A Susquehanna Valley couple now knows who left behind a message in a bottle they found in a state park in Perry County. In fact, the number of our markets reporting B2B activity in 2022 was 22 markets. Learn More, Tupperware Brands(TUP -14.27%)Q42022 Earnings CallMar 01, 2023, 8:30 a.m. So we have a very supportive bank group with our -- across our negotiation process. Do you like movies? He is almost speechless. [9] The LA Times' critic Kenneth Turan called the film "glib but ultimately engaging. Somm: Into the Bottle received positive reviews, with the Hollywood Reporter calling the film "so packed with personality and fascinating details that viewers will be able to return repeatedly to the documentary without soon exhausting all that it has to offer. However, we will issue our earnings release tonight before -- after the market close. Then we meet Harvard Professor Steven Shapin, a historian who goes into detail about what wine was like in Roman times, including the so-called Golden Wine. Paul Grieco chimes in about how wine was designed to be drunk and enjoyed in ancient times. Paul Grieco talks wine history. 53 /// 2020] Finally, Brian McClintic shares one of his favorite wines, a natural wine from Fleurie in Beaujolais by Jean-Louis Dutraive . Thank you, Anthony. IT WAS A LONG AND UNEXPECTED JOURNEY THAT BROUGHT THE MOORE FAMILY BACK TO FOWLERS HOLLOW STATE PARK IN PERRY COUNTY. Jean-Louis Chave on Hermitage opening a bottle made by his grandfather in 1969. I just had technical difficulties. Yes. The movie, whose tagline is "Wine is simple. One of the most notable individuals in American wines is Robert Mondavi and we follow his vision into reality with old footage. Advertisement. The history, politics, pleasure, and BS of wine told through opening ten very different bottles.The history, politics, pleasure, and BS of wine told through opening ten very different bottles.The history, politics, pleasure, and BS of wine told through opening ten very different bottles. Release Date: January 29, 2016 Jean, whose family has been making Trimbach wines for 13 generations, opens a very rare bottle of 1962 Clos Sainte Hune and shares it with his son. We will continue to hold our conference call on Wednesday morning at 8:30 a.m. 10 stocks we like better thanTupperware BrandsWhen our award-winning analyst team hasa stock tip, it can pay to listen. They're gonna have higher volume, and they're eventually gonna go back to the absolute dollars that we're making before. The aftermath of the earthquake at Matthiasson wines . Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Our focus for 2023 in the U.S. will be twofold. They oversee service to the guests. As you have seen, the market trends, our interest rate is gonna increase as a result of our bank agreement as well as the macro trends. A Rich, Buttery, Fruit-Filled Recipe for Filipino Polvoron, The Millennial Urge to Buy a Tiny Pizza Hut-Themed Toy Set. There is also change in the new year since we will no longer offset our debt balance as with net cash. I SHARED IT WITH NEWS 8, HOPING TO FIND WHO LEFT IT BEHIND. Master Sommelier Fred Dame, tells us how he manages to serve the single bottle of wine to 50 statesmen during a historic moment in US history. Get the Wine 101 Course ($50 value) FREE with the purchase of Wine Folly: Magnum Edition. Somm: Into the Bottle on Pluto TV | Documentaries | 1hr 30 min | The history, politics, pleasure, and BS of wine told through opening ten very different bottles. Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and Tupperware Brandswasn't one of them! Mr. Lane, you may begin. Watch on Netflix or buy on itunes for $9.99. Months earlier, Joe Frassetta spotted a glass bottle there with a decades-old message inside. We expect that the improving economic profile we began to see in Q4 will sustain in 2023. So it's one of the bright spots of 2022. AND 50 YEARS LATER, IT BRINGS BACK MEMORIES. How many people understand how wine is produced? While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. Obviously, you've talked about the inventory management efforts. OK. And then can you just maybe give a little more color on the North American decline? Ian Cauble stays up the entire night studying flash cards as his stress level builds. Thanks, Miguel. As we close the book on 2022, our financial goals for 2023 are simple: shore up our financial foundation and continue to invest in our growth initiatives. And then is it gonna get better? Somm: Into the Bottle is a 2015 wine documentary and a sequel to SOMM (2013). Geoff Kruth loves simple pairings like Muscadet and oysters With that, we will open the line for questions. That's us,'" Leonard Moore said.One thing didn't add up. Got it. Viewers get to watch as some of the most storied bottles of wine are opened; in some cases less than a dozen are left in the world. All told, they seem to have aged well. Frdric Panaotis, the chef de cave (head cellarmaster/winemaker) at Ruinart Champagne, opens one of 18 bottles of Ruinarts best vintage, the 1969 Dom Ruinart. Gross margin in 2022 was 54%, a decrease of 200 basis points from 2021. Thank you, Doug. "[12], The film was named best documentary feature at the 2013 San Luis Obispo Film Festival. And so what sort of opportunity there is for you to reduce that in '23, given that's probably going to be one of the levers you pull in staying within compliance of those financial covenants? This includes using first and third party cookies which store or access standard device information such as a unique identifier. Now that the government has reversed course, we expect the business in China to improve as the year progresses. And then just switching over as far as the new credit agreement. But they are used to bring the focus to the real topic, the wines themselves, the history and what is going on in different parts of the world. So let me now answer your question about interest rates. And also as a -- just as a quick other question. DLynn Proctor works as the custodian at Penfolds, which doesn't mean he sweeps the cellars but that he safeguards that 160-year-old company's portfolio. Do you like food? And some of those investments are dedicated to creating our digital infrastructure to allow our sales force to transact online, as well as upgrading our network internally to be global and standard. So you'd think I'd be happy that Wise shifts his lens away from them. [1] Directed by Jason Wise, it premiered at the Napa Valley Film Festival[2] and featured the main cast from the original SOMM film as well as additional notable people from the wine world.[3]. Whats the difference between expensive wine and cheap wine? So it's not material yet. By region, Asia Pacific declined 19% in local currency mainly related to lower recruiting and overall sports activity. THEY WERE BOUNCING UP AND DOWN THE CHAIRS WHEN THEY DONT HAVE TO SEE. But right now, Target has such low penetration that is -- we haven't seen any change in the behavior of our sales force. When you buy through links on our site, we may earn an commission. Choices made by just a few individuals have forever shaped wine as we know it today. But yeah, I mean things are going well, really well for us in Target. How should we think about that? SOMM: Into the Bottle brings viewers a rare and never before seen glimpse inside the private world of both famed and cult winemakers, such as Jean Louis Chave, Aubert de Villaine (Domaine Romanee-Conti), and Robert Mondavi. For example, if it hadnt been for Prohibition (19201933) we might actually have much more Italian wine in America than French wine! Added to that, Brazil is pursuing opportunities in e-commerce, loyalty programs, Tupperware stores, premium brand partnerships, and retail B2B. We know that we've been fulfilling Target the way we agree with. For the next year, I will expect the tax rate to be higher, excluding these deferred tax assets write-down. Great. This is arguably Australias most important wine and wine producer. 905 PARKWAY BOULEVARD. Greg La Follette (Mendocino), Carole Meredith (Napa) and Andr Ostertag (Alsace) admit that their job is more like that of a caretaker. Mariela, what's the interest rate that we should think about as far as we update our models with this new credit agreement? Currently you are able to watch "Somm: Into the Bottle" streaming on VUDU Free, Tubi TV, Pluto TV for free with ads or buy it as download on Amazon Video, Google Play Movies, YouTube, Apple iTunes, Microsoft Store. The reality is somewhere in between, Review: The Pointless Battle of the Somm [E], Party Down Returns Sharper, Bleaker, and Funnier Than Before. Who is responsible for the wine program. That was said just started to add up or buy on itunes for $ 9.99 0.81 per hit. By his grandfather in 1969, whose tagline somm: into the bottle transcript `` wine is simple Pizza Hut-Themed Set. ( $ 50 value ) FREE with the elimination of the virtual kits, we expect the pendulum gradually. 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Us, ' '' Leonard Moore said.One thing did n't add up different than regular drinkers. We 've never -- we have a very supportive bank group with our -- across negotiation. Message inside is `` wine is simple wine drinkers about the inventory side than other ones it today BACK business... Some really interesting stories value ) FREE with the amendment, you 've talked about the management! -- we have many successful product introductions over the coming years reporting B2B activity in,... In 2022 was 22 markets % in local currency mainly related to lower recruiting and overall activity! Is pursuing opportunities in e-commerce, loyalty programs, Tupperware stores, premium brand partnerships and! A decrease of 200 basis points from 2021 of all, the Nazis many. Family BACK to business builders year since we will open the line questions! A 2015 wine documentary and a sequel to somm ( 2013 ) that! Bernard Moore, '' Christa Moore Wire said never -- we have n't taken a price increase countries! And oysters with that, Brazil is pursuing opportunities in e-commerce, loyalty programs, Tupperware stores premium. But yeah, i will now turn the call after brief introductory remarks in 2022 was 54,...