We will simultaneously publish a management commentary on our website. THEY WERE BOUNCING UP AND DOWN THE CHAIRS WHEN THEY DONT HAVE TO SEE. Finally, Brian McClintic shares one of his favorite wines, a natural wine from Fleurie in Beaujolais by Jean-Louis Dutraive . So we are carrying good momentum into 2023. Thank you, Anthony. Learn More, Tupperware Brands(TUP -14.27%)Q42022 Earnings CallMar 01, 2023, 8:30 a.m. You know, Jean-Louis Chave on Hermitage opening a bottle made by his grandfather in 1969. Somm: Into the Bottle Free with ads PG YouTube Movies & TV 162M subscribers Subscribe The history, politics, pleasure, and BS of wine told through opening ten very different bottles. I believe on the pricing side, you've mentioned further price increases expected in '23. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. Somm: Into the Bottle is a 2015 wine documentary and a sequel to SOMM (2013). Best of luck, and I'll pass it on to the next caller. In these locations, consumer into our location is run by a member of our sales force to purchase our products. 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. SOMM: Into the Bottle brings viewers a rare and never before seen glimpse inside the private world of both famed and cult winemakers. Every year, over 500 billion single-use plastic bags are used worldwide, which is over 1 million bags every unit. 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. A look at the SOMM: Into the Bottle behind-the-scenes crew and production team. And the ones that we haven't taken or we traditionally take less than 5%, we're gonna take less than 5%. A third film, SOMM 3, released in 2018. I do apologize. Click Customize Cookies to decline these cookies, make more detailed choices, or learn more. [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. Please enter a valid email and try again. Because you did make some comp plan changes, and I know it was like a matter of time before those kind of got settled out and stuff. Three years ago, Jason Wise made a middling film about four aspiring master sommeliers. 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 dif Aubert de Villaine opens a bottle (the 2004 vintage, considered a bad vintage) and explains that he believes this wine shows more honesty. In total, we added 50 retail chain customers around the world. 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. Well, thank you very much for being with us this morning. 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. That's us,'" Leonard Moore said. THATS MY HANDWRITING. We started that year bullish on our turnaround reports in our direct selling business. The film was distributed by Samuel Goldwyn Films. Or kind of what's the situation there? [Operator instructions] At this time, I will turn the conference over to Doug Lane, vice president, investor relations, and strategy. "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. It would also allow us to jump right into Q&A on the call after brief introductory remarks. COVID lockdowns in China, logistics delays that impact our product availability, higher prices, and lower consumer spending in Malaysia caused in part by removal of government subsidy in food essentials. 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. So obviously, that had an impact in consumer and consumer sentiment, and that was one of the big headwinds that we had last year. Must Read So basically, what we're doing differently this year and we started over in Q4 is that all of our promotions and all the promotional activity that we're doing, the prices that we're giving, and the incentives that we're giving to our sales force are also product that we have in inventory. Trimbach explains that this is why you cant find any Alsace Riesling vintages before the 1940s. AND WERE TALKING ABOUT THEM HERE ON NEWS 8. We successfully launched national distribution in 1,900 Target stores in the U.S. in early October. So I think it might have been in that sort of a little bit of a logistic issue within Target. We eliminated that virtual kit. Geoff Kruth drinks 1980s Muscadet with oysters on the beach. [3] A TV series based on the movie launched on the Esquire Network in November 2015. Get the Wine 101 Course ($50 value) FREE with the purchase of Wine Folly: Magnum Edition. One of the most notable individuals in American wines is Robert Mondavi and we follow his vision into reality with old footage. The talks recently came to a successful completion, and we appreciate the support our lenders continue to provide us even as market conditions became more difficult. YORK. When we exclude those write-downs, the write-down was over 70% of our pre-tax income. "[11] Wine Searcher's reaction was, "Somm: Into the Bottle is not so much a sequel as a stand-alone introduction to the industry and culture of wine. With the trend in Argentina and the momentum in Brazil, coming out of the fourth quarter, we are optimistic about this region in 2023. What-- What is a sommelier? As far as the tax rate, obviously, was elevated, what's kind of the right way to think about the tax rate for 2023? 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. BUT THE NAME WASNT RIGHT. 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. //]]> "But the name wasn't right. "They were bouncing up and down on the chairs. 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. 53 /// 2020] This documentary has only a slight focus on the Sommeliers, trained wine experts. ), Throughout the chapters, some tics become apparent. 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. They took a closer look. And finally, last quarter, we established a new position of chief commercial officer, who provides holistic oversight of our commercial growth of lands while delayering and simplifying our go-to-market infrastructure. [: Hulu] [No. 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 . Geoff Kruth loves simple pairings like Muscadet and oysters So sit back, open a bottle and enjoy as we take you "into the bottle" and back again. So, hi. We plan to file our 10-K before the deadline of March 16. It was Bernard Moore," Christa Moore Wire said. (A similar bottle went for US$160,000 at auction. Do you like movies about food? So we -- obviously, let me just start with the most important thing. 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. 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. SOMM: Into the Bottle brings viewers a rare and never before seen glimpse inside the private world of both famed and cult winemakers. But as in the past, we reacted quickly to external challenges. Invest better with The Motley Fool. Months earlier, Joe Frassetta spotted a glass bottle there with a decades-old message inside. 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. For example, if it hadnt been for Prohibition (19201933) we might actually have much more Italian wine in America than French wine! And then just switching gears. This includes using first and third party cookies which store or access standard device information such as a unique identifier. The way we saw it is that when it opened up, obviously, a lot of people got sick, right? It's about everything," focuses on the story of wine around the world and how it is made. Perhaps, no better showcase for our growth strategy was the success we had in Korea last year. McClintic, who is most heavily featured in the film, has lost his baby fat and now looks like a slightly beefier Adam Levine, so, you know, he's handsome. Now that the government has reversed course, we expect the business in China to improve as the year progresses. Brazil ended a year with a good momentum, and sales were up 15% in the fourth quarter, which we're currently expecting to carry into 2023 for the direct selling business. The film tells the story and history of wine through ten different bottles opened throughout the film in different chapters. Yes. 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. Esquire Magazine's Cal Fussman praised the film as "a great film.." "..with a tense arc that pushes you to the edge of your seat". So that was the other change we made. We made meaningful leadership changes midyear. Third, the new product introductions. With the elimination of the virtual kits, we expect the pendulum to gradually swing back to business builders. He is taken aback when he takes his first sip, he seems to understands more about his grandfather. I CRAZY EASY FOR JOE. 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. 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. 2022, as it turned out, was a real test of our results to turn around this iconic company, and expanding to new channels, and make the company as big as a brand. In addition to friends and family members, several notable sommeliers are interviewed, including Fred Dame, Peter Neptune, Michael Jordan and Geoff Kruth. 2022 proved to be a much more challenging year than we could ever expected. Sales in the U.S. were down 19% in 2022, and Mexico was down 7%. In fact, we're running slightly ahead of scale. Silvia Altare talks about how her dad changed their future with oak. We expect that the improving economic profile we began to see in Q4 will sustain in 2023. Good morning, everyone. So every time the POs come in, we're being -- obviously, it's a big priority. Cost basis and return based on previous market day close. The candidates' emotions are mixed with hope and fear as their mentors give them one last impossibly hard round of situational testing in service and tasting, including an exercise in just how fast one can get a bottle of wine cold. For the full year 2022, dollar-reported sales declined 18% to $1.3 billion. Whereas SOMM was focused tightly on the micro, profiling a ragtag friend-group of aspiring master sommeliers, SOMM: Into the Bottle zooms out on the subject to provide an engrossing overview of the macro a history of wine production and the world of wine itself. *Average returns of all recommendations since inception. With just three weeks left until the three-part exam (theory, service, and blind tasting), the audience begins to see the lifestyle this exam forces on its subjects. Gross margins were up year on year in the fourth quarter for the first time in six quarters as the benefits from our pricing actions throughout the year began to be realized. What are your thoughts on that? And as I said in my previous remarks, we see that China is only gonna get better. But the passage of time has rendered these characters much more interesting. At that time, it was a way to keep the recurring engine running during the time of limited in-person activities. We follow Aubert de Villaine, the current winemaker/co-owner of DRC down a stone stairway into a dark room. Our excitement in general was dampened by a February conflict in Europe and the COVID lockdown in China in March. We know that we've been fulfilling Target the way we agree with. So sit back, open a bottle and enjoy as we take you "into the bottle" and back again. [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]. ET. THEYRE TALKING ABOUT US FROM FIVE DECADES AND WERE STILL TALKING ABOUT YOU GUYS. So we made a few changes on the compensation of the top leaders, which obviously has an impact on their under morale and their attitude. Ian Cauble (from the 1st Somm film) opens his bottle of 1985 Elio Altare Barolo and tells us the story. And I get that competing is not exactly the word, but now that the two are effectively live and product is available at the same time. 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. The story is told by his daughter who relates that her grandfather, Elio's dad, hardly spoke to his son after that change. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. His reality is very different, his wine is no longer easy. And then just switching over as far as the new credit agreement. 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. It never delved deeper into the forces motivating them to embark on such insanity, nor did it offer a compelling case as to why this might not be insanity after all. Yes. Third parties use cookies for their purposes of displaying and measuring personalized ads, generating audience insights, and developing and improving products. "[9] Decanter Magazine said, "This fascinating film is sure to entertain a broad and attentive audience. By submitting your email, you agree to our, Review: Somm: Into the Bottle Squanders the Wonderful Story ofWine, 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. Joining me today are Miguel Fernandez, president and CEO; and Mariela Matute, CFO. But yeah, I mean things are going well, really well for us in Target. When consumers have access to Tupperware products, they choose them. And I told him, and I said, 'This has to be us,'" she said. OK. Gotcha. Ian Cauble comes prepared with a suitcase full of 16 pounds of wine for review. OK. And then can you just maybe give a little more color on the North American decline? With that, we will open the line for questions. Change your choices anytime by going to Cookie Preferences, as described in the Cookie Notice. 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. AFTER ALL THESE YEARS. So that is one of the big headwinds that we're gonna have in 2023. Making the world smarter, happier, and richer. Actual results may differ materially from such statements. In addition, the segment was negatively impacted by timing of our B2B business transactions, mainly in Germany. We have plans to repeat that reduction in the coming quarters. He shared it with News 8, hoping to find who left it behind.Donna Moore, of York County, was watching. official plot version from samuelgoldwynfilms.com. 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. I just had technical difficulties. So we continue to prioritize our investments and balancing our decisions with our desire to delever this company and reduce debt over time. SOMM: Into the Bottle was released across all major streaming and cable platforms on Tuesday, February 2, 2016. I'll pass it. I BET YOURE WATCHING TONIGHT. 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. Second, we will introduce a unique releasable silicone bags that are designed to replace the single-use plastic bags. 2022 also had an extra week, which provided for about 1% of growth. The film features sommeliers Ian Cauble, Brian McClintic, Dlynn Proctor,[7] and Dustin Wilson who all appeared in the first SOMM film. We're learning from this success and are sharing best practices in many markets around the world, throughout this 2023. For the next year, I will expect the tax rate to be higher, excluding these deferred tax assets write-down. Your next question comes from the line of Chasen Bender with Citigroup. Excited to spend into new channels of distribution, I'm cautiously optimistic that the surge of inflation in 2021 was behind us. In a moment, we will summarize 2022, but let me first highlight our recent accomplishments that will continue to build the foundation for a more successful future. Brian speculates on the worst-case scenario of two of the three close friends becoming a Master Sommelier, leaving one behind who must continue training alone. YOURE OUT HERE READING INTO? 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. Thanks for that. Another interesting bit of history - the two World Wars put a major dent in the production of wine from France, Spain and Italy. Excluding unfavorable currency exchange, sales declined 14%. But market conditions there remain uncertain. Understood. Release Date: January 29, 2016 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. In our 10-K to be published by March 16 or earlier, we will also include disclosures of material weakness in the income tax process as the company did not design and maintain effective internal controls related to the accounting for the completeness, occurrence, accuracy, and presentation of the income tax provision, and related income tax assets and liabilities. I don't know if you're seeing plastic resin actually coming down or not and things like freight and shipping. This article is a transcript of this conference call produced for The Motley Fool. Selling, general, and administrative expenses, SG&A, as a percentage of sales was 57% in 2022, compared with 52% in 2021, and contributing about 500 basis points increase at incremental investments in our growth initiatives, such as B2B expansion in the U.S. on the assumption of fixed cost on the lower sales and higher selling costs with a return to in-person events and meetings for the sales force. AND I TOLD HIM AND I SAID, THIS HAS TO BE AWESOME. So I'm gonna start with the -- Good morning, Chasen. So is that still in place, the comp plan change? This year, we're moving into new product categories. During this call, we'll discuss certain non-GAAP measures, including those we refer to as normalized measures. There was lots of spitting, a fair amount of machismo, some mishegoss, some tsuris, and a little bit of naches. Ian Cauble sniffs his glass of Elio Altare 1985. EVERYTHING THAT WAS SAID JUST STARTED TO ADD UP. @WineFolly. Who is responsible for the wine program. And I told him, and I said, 'This has to be us,'" she said. 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. Do you like movies? //
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