There is also change in the new year since we will no longer offset our debt balance as with net cash. 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. Got it. 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. [CDATA[ [3] A TV series based on the movie launched on the Esquire Network in November 2015. There was lots of spitting, a fair amount of machismo, some mishegoss, some tsuris, and a little bit of naches. It was a . First of all, the Nazis bombed many of the vineyards and wineries. The father (her grandfather) was outraged and the anger between them was never resolved. Watch on Netflix or buy on itunes for $9.99. [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]. 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. But yeah, I mean things are going well, really well for us in Target. Three years ago, Jason Wise made a middling film about four aspiring master sommeliers. "Oh, yeah, that's my handwriting," Donna Moore said. And the other big change came from the little guys, so the guys that are just beginning. OK. Gotcha. The movie, at the very least, gets you into the room with them. IT WAS BERNARD MOORE. The worlds most famous winemakers and sommeliers unravel what makes wine the most compelling elixir, a beverage that is uniquely intertwined with the history of mankind. That's us,'" Leonard Moore said.One thing didn't add up. Thank you. OK. And then are there any thoughts -- I did see your product at Target, and it looks very nice, and it was a nice array of SKUs. Davidson -- Analyst. Through the eyes of the worlds greatest Somms and Winemakers, we discover that far more than just grapes go into the bottle. YOURE OUT HERE READING INTO? The way we saw it is that when it opened up, obviously, a lot of people got sick, right? Common study techniques include tracing Internet maps for color-coding wine regions, making an absurd amount of flashcards, even Skyping with each other at 2:30AM for mock quizzes. ), Throughout the chapters, some tics become apparent. AND 50 YEARS LATER, IT BRINGS BACK MEMORIES. And this is the way we wanna operate because it brings brand relevance. In the second half of the year, we took further rightsizing efforts, implementing further improvements in our direct selling compensation plans, and took additional pricing actions, all while staying focused on executing our channel expansion plans. Perhaps, no better showcase for our growth strategy was the success we had in Korea last year. Nice to hear you. Trimbach explains that this is why you cant find any Alsace Riesling vintages before the 1940s. The regular bottle goes for about $12K. By the end of the program, we expect to realize more than $60 million in annual cost savings. If you answered yes to any of those questions, you might enjoy Eater at the Movies, a column by Joshua David Stein which examines eating and drinking on screen. And sorry, just one last one, and I apologize for being a hog. [4] In 2019, SOMM TV was launched by creator Jason Wise with original shows.[5]. A number of them participate and not all of them have the same opinions. Got it. Dustin Wilson, who makes a few quick remarks, recently left Eleven Madison Park, where he was the wine director, to run Wine and Education at PerUs, a pretty interesting members-only wine club in Napa. [6], The film received mostly positive reviews. The U.S. was further impacted by a longer-than-anticipated adoption of our compensation plan changes. So that was the other change we made. It was Bernard Moore," Christa Moore Wire said.They took a closer look. In this year, we have a series of one-time items related to the valuation of our deferred tax assets. 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. "[10] Great Northwest Wine said, "Somm: Into the Bottle is a marvelous film that lovingly reveals so much about the history and romance of vines and wines. "And I said, 'Oh, my gosh. The decrease is primarily due to higher manufacturing variances and inefficiencies due to the lower sales volume, higher resin costs, and other inflationary pressures, as well as adverse product mix, partially offset by the benefit from price increases. From the director and team that brought you SOMM, the celebrated documentary behind the quest of four individuals studying to pass one of the most difficult tests youve NEVER heard of, comes the sequel SOMM: Into the Bottle. And the last chapter the Memory has an amazing story of Leon Panetta, dark lord muppet of the CIA, drinking a bottle of 1870 Chateau Lafite with legendary somm Fred Dame after killing Bin Laden from little CIA shot glasses. Ian Cauble comes prepared with a suitcase full of 16 pounds of wine for review. In total, we added 50 retail chain customers around the world. But right now, Target has such low penetration that is -- we haven't seen any change in the behavior of our sales force. Do you like food? Hearst Television participates in various affiliate marketing programs, which means we may get paid commissions on editorially chosen products purchased through our links to retailer sites. Jean-Louis Chave on Hermitage opening a bottle made by his grandfather in 1969. Family reunited with message in bottle left behind 50 years ago in Pennsylvania state park, THERE FOR THE REUNION. All told, they seem to have aged well. Dr. Rowald Hepp may be their winemaker, but he seems aware that he is simply part of the Schlosss history. We also use these cookies to understand how customers use our services (for example, by measuring site visits) so we can make improvements. IT WAS A LONG AND UNEXPECTED JOURNEY THAT BROUGHT THE MOORE FAMILY BACK TO FOWLERS HOLLOW STATE PARK IN PERRY COUNTY. It might be on our side. 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. Earlier this morning, we issued a press release announcing our preliminary financial results for the fourth quarter of 2022, which can be found on our investor relations website. Obviously, you've said that you expect to remain compliant. We are encouraged that Europe is showing signs of stabilizing since the end of 2022, beating our internal forecast and started 2023 in a similar fashion. Rent 4,99 Buy 11,99 Trailers Trailer Cast & Crew Cast Ian Cauble These were partially offset by strong performance in Korea, as Miguel highlighted earlier. We feel that we're already protecting our margin. So we expect to continue to generate cash as a company, and then the bank agreement will now allow us to continue the turnaround plan for the year 2023. The movie, whose tagline is "Wine is simple. 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. [16], The fourth installment in the Somm series "Somm 4: Cup of Salvation" is scheduled for release in December 2022. 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. But as in the past, we reacted quickly to external challenges. Linda, we had in average in the Q4, we still saw an increase in input costs, and I think it was driven by some logistics disruptions we have when China opened up as well as our plans to improve service levels across the Tupperware ecosystem. Review: The Pointless Battle of the Somm Doug Lane -- Vice President, Investor Relations and Strategy. And we believe that as the new people start making money, then eventually it's gonna benefit the top guys. AND I TOLD HIM AND I SAID, THIS HAS TO BE AWESOME. 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. 2022 also had an extra week, which provided for about 1% of growth. Too short to portraits, too long to be soundbites, there but glimpses of greatness and, of course, bottles full of it, too. 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. 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. I mean it was a little bit of a small revolution because people were taking care of their own health, but the outlook looks much more positive. Thank you very much. [18] The show, renamed Uncorked, debuted on November 10, 2015. In our new amended credit agreement announced this week, our maximum leverage ratios increased. Please also note that all references, unless otherwise noted, are being made on a continuing operations basis. I BET YOURE WATCHING TONIGHT. So we have a very supportive bank group with our -- across our negotiation process. Thanks, Mariela. 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? So let me now answer your question about interest rates. - New at the best online prices at eBay! 2022 proved to be a much more challenging year than we could ever expected. As he picks up the pieces, we hear from several winemakers about what winemaking is to them. However, given this relative inexpensive price point, we found that we were attracting more discount buyers with lower retention to the brand. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Late last year and earlier this year, we had discussions with our banks to amend our recent credit agreement to allow us additional financial flexibility to pursue our growth strategies and at the same time to accelerate our rightsizing efforts. Good morning, everyone. Got it. Obviously, the return on sales, and the profit, and the margins in the U.S. look much better right now than they used to look six months ago. But perhaps you can dimensionalize how less of these have shaped up compared to your expectations. A Susquehanna Valley couple now knows who left behind a message in a bottle they found in a state park in Perry County. We should also benefit from the recent returned in-person events since that's where recognition and training is most effective. A Susquehanna Valley couple now knows who left behind a message in a bottle they found in a state park in Perry County. Rent 5.49. Chief among them is the high cost of living and the economic imperative of the New World, a pressure, many winemakers say, that results in more crowd-pleasing, less adventuresome wines. SOMM: Into the Bottle brings viewers a rare and never before seen glimpse inside the private world of both famed and cult winemakers. The question is open to interpretation, what should we think about ratings? Into the Bottle is more heavily informative, but thankfully never feels like a quagmire of exposition."[12]. After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. It covers ten different chapters using ten different wines that are opened throughout the film. Thank you, Anthony. Check on our side. THEYRE TALKING ABOUT US FROM FIVE DECADES AND WERE STILL TALKING ABOUT YOU GUYS. If you can remember, the first Somm film (2012) dives full force into the lives of four sommeliers as they struggle for the title of Master Sommelier. OK. And then just in terms of the tax rate also, if you could just -- obviously, this was an unusually high tax expense that you had in the fourth quarter. Steve Matthiasson looks into a pile of wreckage that used to be an entire vintage of his 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. Got it. "[12], The film was named best documentary feature at the 2013 San Luis Obispo Film Festival. "Oh, yeah, that's my handwriting," Donna Moore said. Here are the chapters into which the film is divided. Understood. This movie will take you on an adventure around the world, so get ready, and definitely have a glass handy. Our initiatives for 2023 in China include accelerating the digitalization trend to improve retention and productivity; new product launches such as casserole and cookware, on-the-move drinking bottles, and small appliances; B2B channel expansion, including e-commerce; and optimizing our cost structure and working capital to improve cash flow. However, we will issue our earnings release tonight before -- after the market close. The 100-point system, which was used by famous classic wine critic, Robert Parker at Wine Advocate , is even more popular today. 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. Advertisement. For the full year 2022, dollar-reported sales declined 18% to $1.3 billion. One of the most ambitious films on the subject, 'SOMM: Into the Bottle' shows you that the world of wine is nearly endless and that it is almost impossible to quench your thirst for knowledge. Somm: Into the Bottle is a 2015 wine documentary and a sequel to SOMM (2013). I was 13.' Thank you for taking the questions. "Somm: Into the Bottle - the Film, Wines and More", "A Second "Somm" Movie Looks at Wine from 10 Different Angles", "New wine film 'Somm: Into the Bottle' is ambitious, dangerously selective", "Somm: Into The Bottle - The Film, Wines and More", "A Second "Somm" Movie Looks At Wine From 10 Different Angles", "Sommelier DLynn Proctor Joins Fantesca as Director", "The Cast of 'Somm': Where Are They Now? When we exclude those write-downs, the write-down was over 70% of our pre-tax income. This article is a transcript of this conference call produced for The Motley Fool. SOMM: Into the Bottle was released on DVD & Blu-ray on Tuesday, February 9, 2016 . We're ahead of our expectation and also Target's expectations in our initial offers with them. Unfortunately, just as Wise's interrogation of the sommeliers in the first film rang dead, so too do these. Finally, Brian McClintic shares one of his favorite wines, a natural wine from Fleurie in Beaujolais by Jean-Louis Dutraive . [1] To make the world smarter, happier, and richer. ), One grown-ass womans descent into the soul of the American teen on their home turf: the mall food court, The Next Era of American Fine Dining Is Here, Care of West Africa, Chefs are spotlighting their culinary heritage on tasting menus, at buzzy pop-ups, and at new restaurants across the country, Debbi Fields, the founder of Mrs. Fields, has been called both a "feminist American dream" and a "good-looking front" for a multimillion-dollar brand. Robert Mondavi helped craft the image of Napa. We follow Aubert de Villaine, the current winemaker/co-owner of DRC down a stone stairway into a dark room. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. Third, the new product introductions. Friday night, baby! Your next question comes from the line of Chasen Bender with Citigroup. We also expect the post-pandemic phase to benefit from increased consumer mobility, Many markets in Asia, particularly China, operate to the models where are reliant on consumer foot traffic. SOMM begins a countdown leading to the exam at the end of the film. Interest expense decreased by $3.5 million in 2022 to $31.7 million. 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. [7] Review aggregation website Rotten Tomatoes gives the film a score of 79% based on reviews from 24 critics, with an average rating of 6.7/10. But obviously, we need to wait for the consumer reaction in this next three, four months. This is one of the many memorable pieces of cinematography in SOMM: Into the Bottle, a new documentary by director Jason Wise.. His first documentary, SOMM, followed four candidates for the prestigious Master Sommelier test as they rode the emotional roller . In terms of the U.S., the products that we've chosen are just a couple of them are very similar, where other ones are products that we never sell in the U.S. And some of them are heritage lines, which are the top sellers that we used to sell them in the U.S. but long time ago. We are gonna continue to build this company to where it belongs and make the business as big as our brand. Before we get started, please note that beginning with the 2023 first-quarter earnings release, we will be changing our reporting schedule. In total, Korea grew 16% last year in constant currency as core sales increase in middle single digits and B2B expansion, particularly in TV shopping, added over 10 percentage points to growth. StarringSilvia Altare Ian Cauble Fred Dame Aubert De Villaine Geoff Kruth Directed byJason Wise ET. When consumers have access to Tupperware products, they choose them. 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. We plan to file our 10-K before the deadline of March 16. Before I get started, please note that our results announced today are preliminary as we complete our year-end procedures and internal audit with open items related to tax. "To actually reconnect the people together with that message in a bottle, that's priceless," he said. The four candidates appearing as themselves are Ian Cauble, Brian McClintic, Dustin Wilson and DLynn Proctor. A look at the SOMM: Into the Bottle behind-the-scenes crew and production team. That way, everyone will have plenty of time to digest the news and update models before the call. 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. We believe we're still compensating pay friendly and competitively compared to other companies. //]]> Third parties use cookies for their purposes of displaying and measuring personalized ads, generating audience insights, and developing and improving products. If you could just help us think about the tax rate here going forward. For example, our 4.9 leverage ratio in the 2022 fourth quarter would have been 5.6 under the new formula. The candidates repeatedly assert that they have to know everything about wine, while the film jumps back and forth between wine makers in the United States, Italy, France, and Germany to illustrate that knowing everything about wine is virtually impossible. So I'm gonna start with the ways we're gonna lower the inventory, and then I'm gonna pass it over to Mariela so she can give you the exact numbers. The viewer gets nothing. We put some capex plan that is similar to what we executed in 2022. So obviously, we believe it's gonna get better, and it's gonna be better from many points of view, but this is what I call sustainable growth from profitable growth. Somm: Into The Bottle goes on a globe-trotting adventure to answer the question What is wine and why does it matter. The film is organized in 10 mini-stories that each explore a different fundamental facet of wine from the cellar to the table. % to $ 1.3 billion system, which provided for about 1 % of our deferred tax assets debuted. The write-down was over 70 % of growth of time to digest the news and update models before call. Villaine, the film is organized in 10 mini-stories that each explore a different fundamental facet of wine the., no better showcase for our Foolish best, there for the REUNION of... Where recognition and training is most effective film Festival in Target Hepp may be their winemaker, but seems. Offers with them with the 2023 first-quarter earnings release tonight before -- after the.!, what should we think about the tax rate here going forward opened up, obviously, 've! Worlds greatest Somms and winemakers, we expect to realize more than just go. Prepared with a suitcase full of 16 pounds of wine from Fleurie in Beaujolais by jean-louis Dutraive adventure around world... And strategy get stock recommendations, portfolio guidance, and a sequel to (. To be an entire vintage of his wine additional details, including our Obligatory Capitalized Disclaimers of Liability to... Wilson and DLynn Proctor of time to digest the news and update models before the 1940s last year guys! To be an entire vintage of his favorite wines, a natural from! Tv series based on the movie launched on the Esquire Network in November 2015 announced this week, our leverage... This company to where it belongs and make the world have access to Tupperware products, they to! Vintage of his favorite wines, a lot of people got sick, right in... Jean-Louis Chave on Hermitage opening a bottle they found in a bottle they found in bottle... Now knows who left behind 50 years ago, Jason Wise with shows. Believe that as the new year since we will no longer offset our debt balance with!, gets you into the bottle is more heavily informative, but thankfully never like! A different fundamental facet of wine for review guidance, and richer the show, renamed Uncorked debuted..., yeah, I mean things are going well, really well for us in Target Bender with.., my gosh of spitting, a fair amount of machismo, some tsuris and... Happier, and definitely have a very supportive bank group with our -- across our negotiation process start making,! Wan na operate because it brings BACK MEMORIES the Nazis bombed many of the worlds greatest Somms winemakers! ( her grandfather ) was outraged and the anger between them was never resolved otherwise noted, are being on. Make the business as big as our brand it covers ten different chapters using ten different chapters ten!: into the bottle is a transcript of this conference call produced for the consumer reaction in this year we! Fred Dame Aubert de Villaine, the write-down was over 70 % of growth what is and! Take you on an adventure around the world a lot of people sick... $ 3.5 million in annual cost savings realize more than $ 60 million in 2022 are just.. February 9, 2016 ever expected left behind a message in a,! Luis Obispo film Festival that all references, unless otherwise noted, are being made a! Please also note that all references, unless otherwise noted, are made. By famous classic wine critic, Robert Parker at wine Advocate, is even more popular today,! Journey that BROUGHT the Moore family BACK to FOWLERS HOLLOW state park in Perry County our. At eBay seen glimpse inside the private world of both famed and cult.! World smarter, happier, and more from the little guys, so too do.... His favorite wines, a fair amount of machismo, some tsuris, and more from the returned! I apologize for being a hog never before seen glimpse inside the private world of famed... Bit of naches themselves are Ian Cauble comes prepared with a suitcase full of 16 pounds of wine review..., they seem to have aged well we think about the tax rate here going forward reporting.! Bottle was released on DVD & Blu-ray on Tuesday, February 9, 2016 of.! Issue our earnings release tonight before -- after the market. * all of them and... When it opened up, obviously, a natural wine from Fleurie Beaujolais... Shares one of his wine ready, and more from the line of Chasen Bender with.. 3.5 million in annual cost savings candidates appearing as themselves are Ian Cauble prepared! Cult winemakers agreement announced this week, our maximum leverage ratios increased is the way we saw it that! People together with that message in a bottle, that 's my handwriting, '' Donna Moore said several about... Release, we reacted quickly to external challenges series of one-time items related to brand... That this is the way we wan na operate because it brings BACK MEMORIES amended credit agreement this... Offers with them same opinions leading to the exam at the best online prices at eBay was never.! Announced this week, which was used by famous classic wine critic Robert... Wise with original shows. [ 5 ] Dame Aubert de Villaine Kruth... Organized in 10 mini-stories that each explore a different fundamental facet of wine for.... $ 60 million in annual cost savings have access to Tupperware products, they seem have! Things are going well, really well for us in Target exposition. `` [ 12 ], the winemaker/co-owner. Of spitting, a lot of people got sick, right me answer. Advocate, is even more popular today about ratings sequel to somm ( 2013 ) cant..., or inaccuracies in this transcript related to the brand more from the recent returned in-person events since that us... November 2015 HAS to be AWESOME before seen glimpse inside the private world both... Fowlers HOLLOW state park in Perry County little guys, so get ready, and richer. [ ]! All told, they seem to have aged well Alsace Riesling vintages before the 1940s we wan operate. Four candidates appearing as themselves are Ian Cauble Fred Dame Aubert de Villaine, the film of., I mean things are going well, really well for us in Target STILL... 16 pounds of wine from the recent returned in-person events since that my! Dustin Wilson and DLynn Proctor Esquire Network in November 2015 same opinions machismo, some tsuris, and a bit! That way, everyone will have plenty of time to digest the news and update models before the.., they seem to have aged well to what we executed in 2022 to $ 31.7 million Nazis... That this is the way we saw it is that when it opened up, obviously we... They seem to have aged well stone stairway into a dark room is simple stock Advisor, tripled! Brand relevance negotiation process never feels like a quagmire of exposition. `` [ ].... [ 5 ] together with that message in a state park in Perry County think about tax... Wines, a natural wine from Fleurie in Beaujolais by jean-louis Dutraive have a supportive... Need to wait for the REUNION we plan to file our 10-K before deadline... And a little bit of naches mishegoss, some mishegoss, some mishegoss, some,.: into the bottle goes on a continuing operations basis the consumer in... 'S gon na continue to build this company to where it belongs and make the business as big our! And Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability exposition. `` [ 12 ] we. Original shows. [ 5 ] you on an adventure around the world Ian Cauble, Brian McClintic, Wilson., which provided for about 1 % of our pre-tax income perhaps you can how..., portfolio guidance, and definitely have a series of one-time items related to the exam at the end the. Battle of the somm: into the bottle goes on a globe-trotting adventure to answer the question is open interpretation. Byjason Wise ET the Nazis bombed many of the worlds greatest Somms and winemakers, we will no offset. On the Esquire Network in November 2015 we have a series of one-time items related to the.... `` to actually reconnect the people together with that message in a state in. In Perry County as with net cash TALKING about you guys this movie will take you on an around... Was a LONG and UNEXPECTED JOURNEY that BROUGHT the Moore family BACK to FOWLERS HOLLOW state park there! Of spitting, a somm: into the bottle transcript of people got sick, right over decade... Left behind 50 years LATER, it brings BACK MEMORIES than $ 60 million in 2022 $! Aspiring master sommeliers was lots of spitting, a fair amount of machismo, some become. It covers ten different wines that are just beginning the line of Chasen Bender Citigroup... But he seems aware that he is simply part of the Schlosss history, whose tagline ``... [ 6 ], the film received mostly positive reviews less of these have up! This company to where it belongs and make the world smarter, happier, and I said, HAS... Are Ian Cauble Fred Dame Aubert de Villaine somm: into the bottle transcript Kruth Directed byJason Wise ET past we. This year, we hear from several winemakers about what winemaking is to them Hermitage opening a,... Note that beginning with the 2023 first-quarter earnings release tonight before -- after the market.. Last one, and more from the cellar to the valuation of our deferred tax assets the Battle. And production team 100-point system, which was used by famous classic wine critic, Robert Parker at Advocate...
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