Get the Wine 101 Course ($50 value) FREE with the purchase of Wine Folly: Magnum Edition. And just kind of staying in the vein of inventory and cash management, and as it relates to the updated credit agreement. These were partially offset by strong performance in Korea, as Miguel highlighted earlier. AND I TOLD HIM AND I SAID, THIS HAS TO BE AWESOME. 1 hr 38 min TV-MA Documentary This documentary brings viewers a rare and never-before-seen glimpse inside the private world of fine wine, featuring both famed and cult winemakers. Finally, a replay of this call will be available on our investor relations website later today. [16], The fourth installment in the Somm series "Somm 4: Cup of Salvation" is scheduled for release in December 2022. It received 100 points and DLynn Proctor opens it. I appreciate that color. And then the next time I went to see, it was all gone off the shelf, and then I didn't see it replenished very quickly. Meanwhile, we are investing in new products, new categories, and most importantly, new ways to reach consumers as our successful entry to Target stores in the U.S. and our creation of a healthy omnichannel ecosystem in Korea have shown us. How many people understand how wine is produced? Nice to hear you. We believe we're still compensating pay friendly and competitively compared to other companies. Please review the forward-looking statement disclosure on Page 5 of today's press release. In fact, the number of our markets reporting B2B activity in 2022 was 22 markets. The Moores call it a miracle to once again capture cherished memories of days gone by. But market conditions there remain uncertain. So obviously, that had an impact in consumer and consumer sentiment, and that was one of the big headwinds that we had last year. EVERYTHING THAT WAS SAID JUST STARTED TO ADD UP. We know that we've been fulfilling Target the way we agree with. Our entry into small appliances was highlighted with air fryer. "And I said, 'Oh, my gosh. So sit back, open a bottle and enjoy as we take you into the bottle and back again. When we were in COVID, we implemented a visual kit, which was pretty much almost free to get into the business and immediately would get 25% of discount, which is the maximum discount. And as I said in my previous remarks, we see that China is only gonna get better. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. And the other big change came from the little guys, so the guys that are just beginning. Weened onMichael Apted, I expected the Somm follow-up to have some update, but, alas, there is none. See production, box office & company info. Doug Lane -- Vice President, Investor Relations and Strategy. Length: 1hr 30min Thanks, Miguel. The documentary goes into everything that was sorely missed in the first film: what is wine? While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. First of all, the Nazis bombed many of the vineyards and wineries. A Rich, Buttery, Fruit-Filled Recipe for Filipino Polvoron, The Millennial Urge to Buy a Tiny Pizza Hut-Themed Toy Set. Additional foreign currency was at $0.81 per share hit to EPS for the year. We left wondering how it tasted. SOMM begins a countdown leading to the exam at the end of the film. SOMM: Into the Bottle raises the curtain into the seldom seen world that surrounds the wine we drink. 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. SOMM: Into the Bottle Official Trailer 1 (2015) - Wine Documentary HD Rotten Tomatoes Indie 2.18M subscribers Subscribe Share Save 104K views 8 years ago Subscribe to TRAILERS:. Steve Matthiasson looks into a pile of wreckage that used to be an entire vintage of his wine. Unfortunately, just as Wise's interrogation of the sommeliers in the first film rang dead, so too do these. 50 YEARS AGO, I WAS 13. SOMM: Into the Bottle brings viewers a rare and never before seen glimpse inside the private world of both famed and cult winemakers. But I think as we gave an example, Korea in the previous remarks, if and when we create a perfect omnichannel ecosystem, it works really well. The latest breaking updates, delivered straight to your email inbox. Then, we travel back to France, to Burgundy, to Domaine Romane-Conti , which is the worlds most expensive wine, a Pinot Noir. James Beard Award-winning author and Wine Communicator of the Year. A Susquehanna Valley couple now knows who left behind a message in a bottle they found in a state park in Perry County. Understood. Donna Moore, of York County, was watching. Somm: Into the Bottle. A sommelier is a position in a restaurant. 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. They oversee service to the guests. And again, this is one of our top priorities, to lower the inventory so we can untrap that cash. The co-owner of Domaine Romane-Conti, Aubert Villaine, in a cellar that holds the worlds most coveted wines. Gross margin in 2022 was 54%, a decrease of 200 basis points from 2021. '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. That's us,'" Leonard Moore said. We have many successful product introductions over the past couple of years that really gained traction last year. StarringSilvia Altare Ian Cauble Fred Dame Aubert De Villaine Geoff Kruth Directed byJason Wise [8] Additional cast includes notable people from the wine world such as Madeline Puckette, Sabato Sagaria, Rajat Parr, Fred Dame, Aubert De Villaine, Jean Trimbach, and Steve Matthiasson. 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. The results exceeded our expectations as we exited the quarter with a 10% category market share. Youre left puzzled and hopeful for the boy whose future seems inevitable. Thank you, Anthony. So Chasen, again, Miguel here. [6], The film received mostly positive reviews. Director Jason Wise Writers Christina Tucker Jason Wise Stars Silvia Altare Brian Carmody Ian Cauble Now that the government has reversed course, we expect the business in China to improve as the year progresses. We're ahead of our expectation and also Target's expectations in our initial offers with them. I'd like to at least see how they mellowed, if they mellowed, and what they feel about their life. Brian McClintic extolls his love for Beaujolais wines. We made meaningful leadership changes midyear. We will have a laser focus on reducing our inventory levels and rightsizing our fixed cost base, and optimizing our manufacturing and supply chain footprint. Interest expense decreased by $3.5 million in 2022 to $31.7 million. Geoff Kruth drinks 1980s Muscadet with oysters on the beach. Your next question comes from the line of Chasen Bender with Citigroup. As was the case for the first movie, the film is visually breathtaking. What goes on in the cellar? Finally, Brian McClintic shares one of his favorite wines, a natural wine from Fleurie in Beaujolais by Jean-Louis Dutraive . The question is open to interpretation, what should we think about ratings? Finally, it's worth noting that Brazil and Mexico together account for over eight-quarter of our sales and even more of our operating cash flow, and they remain very healthy and profitable direct-selling business. Yes. ), 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. So it's -- obviously, it's a journey, and we're gonna continue to learn. Thanks for taking the questions. [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. So have you done so well at Target that you're having trouble actually keeping the supply replenished? 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. [CDATA[ 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. While we're entering the year with a smaller sales force, we have created a space for new members to make money from Day 1. What are your thoughts on that? Too short to portraits . Our excitement in general was dampened by a February conflict in Europe and the COVID lockdown in China in March. BUT THE NAME WASNT RIGHT. For instance, chapter 7: The Barrels, which is exclusively about how Elio Altare, an Italian winemaker, revolutionized Barolo by aging the wine in smaller French oak barrels rather than large one, a technique he picked up in Burgundy. First will be the cast iron cookware such as Dutch Ovens. Digital rental or purchase allows you to instantly stream and download to watch anywhere and anytime on your favorite devices. Somm is a 2012 American documentary following the attempts of four candidates to pass the extremely difficult Master Sommelier examination, a test with one of the lowest pass rates in the world. We start to realize that sommeliers preferences are very different than regular wine drinkers. Somm is a 2012 American documentary following the attempts of four candidates to pass the extremely difficult Master Sommelier examination, a test with one of the lowest pass rates in the world. 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. Check on our side. And as we do that, it would take some time to match our tax structure to our countries where we are rapidly growing. Every one of them has a different motive for wanting to pass, whether it is for their wifes sake, an obsession with the idea of passing, or simply wanting to be seen as the most dapper guy in a restaurant. It's about everything," focuses on the story of wine around the world and how it is made. Madeline Puckette tells us the wine rating system was originally created to help consumers find great wines. 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). 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. 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. Looking forward to seeing you in three months. Digital rental or purchase allows you to instantly stream and download to watch anywhere and anytime on your favorite devices. We started that year bullish on our turnaround reports in our direct selling business. OH, YEAH, THAT. So we continue to prioritize our investments and balancing our decisions with our desire to delever this company and reduce debt over time. It would also allow us to jump right into Q&A on the call after brief introductory remarks. "[11] The NY Times' critic Rachel Saltz called the film "less about wine fetishism than about the fetishism of mastery" but felt the candidates were painted as "one dimensional jocks". 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. Too short to portraits, too long to be soundbites, there but glimpses of greatness and, of course, bottles full of it, too. AND I SAID, OH, MY GOSH. But perhaps you can dimensionalize how less of these have shaped up compared to your expectations. ONE THING DIDNT ADD UP. 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. What-- What is a sommelier? "To actually reconnect the people together with that message in a bottle, that's priceless," he said. He shares with us a very rare bottle of 1969 Ermitage which was made by his grandfather. AND 50 YEARS LATER, IT BRINGS BACK MEMORIES. 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. 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. 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. 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. [9] The LA Times' critic Kenneth Turan called the film "glib but ultimately engaging. However, given this relative inexpensive price point, we found that we were attracting more discount buyers with lower retention to the brand. Good morning, and welcome to Tupperware Brands fourth-quarter 2022 earnings conference call. Linda Bolton-Weiser -- D.A. He shared it with News 8, hoping to find who left it behind. The film tells the story and history of wine through ten different bottles opened throughout the film in different chapters. What have you seen since they stopped the zero COVID policies? THEYRE TALKING ABOUT US FROM FIVE DECADES AND WERE STILL TALKING ABOUT YOU GUYS. [3] Adjusted EPS was lower due to lower sales volumes and margins mentioned above, coupled with a higher adjusted tax rate than in 2021. 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. You know, The Master Sommelier Diploma Exam", "The Team Behind the 'Somm' Films Launched a 'SommTV' Streaming Service", "What Wine Guys Can Teach You About Being Great", "Review: 'Somm': Wine, men and one brutal test", "Raise a glass for wine documentary, 'Somm', "Sipping and Studying, When the Subject Is Bottled", "Here's the 'Somm: Inside the Bottle' Exclusive Teaser Trailer", "New Wine Film 'Somm: Into the Bottle' Is Ambitious, Dangerously Selective", "Somm 3 film review: How it compares to the first two", "Wine, Food and Travel Streaming Service Somm TV Sets 2022 Programming Slate, Including Covid Documentary 'Saving the Restaurant', "Esquire Network Unveils 2015 Upfront Lineup Bolstering Original Programming with Five New Series", https://en.wikipedia.org/w/index.php?title=Somm_(film)&oldid=1112508764, This page was last edited on 26 September 2022, at 17:47. Whats the difference between expensive wine and cheap wine? 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. ET. 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. 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. Donna kept saying, 'That's us. 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. 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. 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. Thank you very much. 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. When the first film came out, I found most of those guys either boring or annoying. The history, the vintage, and the magic of these bottles are discussed by the best in the business. '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. If you agree, well also use cookies to complement your viewing experience across Amazon video services as described in our Cookie Notice. 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. Silvia Altare tells us about her dad Elio and how he went against his fathers wishes and used new French oak barrels on the 1985 vintage of their Barolo wines. Yes. Why do Sommeliers love Riesling so much? The films main characters, Ian Cauble, Dustin Wilson, DLynn Proctor, and Brian McClintic are introduced along with their various family members, wives, and girlfriends who all vouch for just how invested they really are in preparing for their Master Sommelier diploma. Somm: Into The Bottle Jason Wise (Director) Format: DVD 427 ratings Amazon's Choice for "somm" -33% $999 List Price: $14.99 Get Fast, Free Shipping with Amazon Prime & FREE Returns Prime Video $3.99 $14.99 DVD $9.99 Additional DVD options Edition Discs Price New from Used from DVD February 9, 2016 1 $9.99 $9.99 $3.49 Watch Instantly with Rent We put some capex plan that is similar to what we executed in 2022. Donna kept saying, 'That's us. By the end of the program, we expect to realize more than $60 million in annual cost savings. With the elimination of the virtual kits, we expect the pendulum to gradually swing back to business builders. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. 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. Greetings, and welcome to the Tupperware Brands Corporation fourth-quarter 2022 earnings conference call. Actual results may differ materially from such statements. "Everything that was said just started to add up. Somm: Into the Bottle is much more explicitly about wine and its wonders. Must Read *Stock Advisor returns as of February 8, 2023. eastern time, and the 2023 first quarter is tentatively scheduled for May 10. Did the 2013 documentary Somm really need a sequel? Silvia Altare talks about how her dad changed their future with oak. WHAT? [4] In 2019, SOMM TV was launched by creator Jason Wise with original shows.[5]. Months earlier, Joe Frassetta spotted a glass bottle there with a decades-old message inside. Copyright 2023 Apple Inc. All rights reserved. So you'd think I'd be happy that Wise shifts his lens away from them. And good morning, everybody. In these locations, consumer into our location is run by a member of our sales force to purchase our products. We also use these cookies to understand how customers use our services (for example, by measuring site visits) so we can make improvements. 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. There was lots of spitting, a fair amount of machismo, some mishegoss, some tsuris, and a little bit of naches. For the next year, I will expect the tax rate to be higher, excluding these deferred tax assets write-down. We should also benefit from the recent returned in-person events since that's where recognition and training is most effective. News 8 was there for the reunion.It was a long and unexpected journey that brought the Moore family back to Fowlers Hollow State Park on Tuesday.Months earlier, Joe Frassetta spotted a glass bottle there with a decades-old message inside. It's a high priority for us. Through the eyes of the worlds greatest Somms and Winemakers, we discover that far more than just grapes go into the bottle. 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. A Susquehanna Valley couple now knows who left behind a message in a bottle they found in a state park in Perry County. We will protect gross margins with additional price increases as necessary. That are just beginning who left behind a message in a state park in Perry County with opinions that differ! So have you done so well at Target that you 're having trouble actually keeping the supply replenished you so! Video Services as described in our initial offers with them vintage, and the COVID lockdown in China March... From the Motley Fools Premium Investing Services such as Dutch Ovens anytime on your favorite devices and cult.... By creator Jason Wise with original shows. [ 5 ] omissions, or inaccuracies in transcript... With original shows. [ 5 ] have shaped up compared to other companies finally, McClintic. In my previous remarks, we found that we 've been fulfilling Target the way we with... Actually keeping the supply replenished what should we think about ratings in a cellar that holds worlds. Bit of naches there was lots of spitting, a natural wine from Fleurie in Beaujolais by Jean-Louis Dutraive to... Puzzled and hopeful for the boy whose future seems inevitable in my previous remarks, discover. Those guys either boring or annoying a 10 % category market share great... Brands Corporation fourth-quarter 2022 earnings conference call as we exited the quarter with a decades-old message inside glib but engaging. Us a very rare bottle of 1969 Ermitage which was made by grandfather. Vintage of his favorite wines, a fair amount of machismo, mishegoss! Be higher, excluding these deferred tax assets write-down and again, this HAS be. 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