*Average returns of all recommendations since inception. In fact, we're running slightly ahead of scale. Watch on Netflix or buy on itunes for $9.99. Pricing accounted for an 8% benefit, which was more than offset by a decline in unit volume of approximately 22%. It was Bernard Moore," Christa Moore Wire said.They took a closer look. 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. 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. Somm: Into the Bottle is much more explicitly about wine and its wonders. Months earlier, Joe Frassetta spotted a glass bottle there with a decades-old message inside. 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. 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. YORK. Silvia Altare talks about how her dad changed their future with oak. This year, we're moving into new product categories. Madeline Puckette tells us the wine rating system was originally created to help consumers find great wines. Unfortunately, just as Wise's interrogation of the sommeliers in the first film rang dead, so too do these. The U.S. was further impacted by a longer-than-anticipated adoption of our compensation plan changes. It was a long and unexpected journey that brought the Moore family back to Fowlers Hollow State Park on Tuesday. We put some capex plan that is similar to what we executed in 2022. 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. Do you like food? But the bulk of Somm: Into the Bottle is a loving, caressing view of wine around 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. And this is the way we wanna operate because it brings brand relevance. Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and Tupperware Brandswasn't one of them! His reality is very different, his wine is no longer easy. Invest better with The Motley Fool. Change your choices anytime by going to Cookie Preferences, as described in the Cookie Notice. A third film, SOMM 3, released in 2018. Something went wrong. That's us,'" Leonard Moore said. Thanks, Miguel. So we have a very supportive bank group with our -- across our negotiation process. What have you seen since they stopped the zero COVID policies? Obviously, people are coming back to a new normality. e track upcoming movies through all stages of film production. It might have been probably back luck. North America sales decreased 16%, primarily due to lower recruiting and overall sales force relativity, longer-than-anticipated adoption of compensation plan changes in the United States and Canada, and negative impact from price increases. The movie, whose tagline is "Wine is simple. And in fairness, each chapter contains some really interesting stories. We believe we're still compensating pay friendly and competitively compared to other companies. 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". In Mexico, we will introduce new products in our core food storage categories, such as packable freezer mate and cold savers, as well as one-touch fresh food storage containers with easy-to-close and open lids, which is one of our newest global products. 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? As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. He shared it with News 8, hoping to find who left it behind. Obviously, our recurring numbers are gonna go down, but the recruits that we're gonna have are business-oriented people, where they're actually gonna make money. So we -- obviously, let me just start with the most important thing. Length: 1hr 30min [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. For example, our 4.9 leverage ratio in the 2022 fourth quarter would have been 5.6 under the new formula. Well, Somm: Into The Bottle is a completely different animal. "[12], The film was named best documentary feature at the 2013 San Luis Obispo Film Festival. 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. 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. The latest breaking updates, delivered straight to your email inbox. They are now 6.25 for the first, second, and third quarters of 2023, a stepping down to 5.75 in the fourth quarter and first quarter and second quarters of 2024, then stepping down to 4.50 for the third quarter and beyond of 2024. Every year, over 500 billion single-use plastic bags are used worldwide, which is over 1 million bags every unit. 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. Viewers are taken beyond the exam and down the wine (bottle) rabbit hole. The history, politics, pleasure, and BS of wine told through opening ten very different bottles. StarringSilvia Altare Ian Cauble Fred Dame Aubert De Villaine Geoff Kruth Directed byJason Wise Somm: Into the Bottle is a 2015 wine documentary and a sequel to SOMM (2013). Understood. IT WAS BERNARD MOORE. So we are carrying good momentum into 2023. 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. By the end of the program, we expect to realize more than $60 million in annual cost savings. 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. I'll pass it. And with that, let me turn the call over to you, Miguel. 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. (A similar bottle went for US$160,000 at auction. The film was distributed by Samuel Goldwyn Films. SOMM: Into the Bottle was released on DVD & Blu-ray on Tuesday, February 9, 2016 . 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. BLAIN, Pa. . They took a closer look. We will be available for Q&A following our prepared remarks. The aftermath of the earthquake at Matthiasson wines . 2022 also had an extra week, which provided for about 1% of growth. A Susquehanna Valley couple now knows who left behind a message in a bottle they found in a state park in Perry County. So for our tax rate, we expect the tax rate to continue to be elevated. [1] I THINK ITS GREAT. During this call, we'll discuss certain non-GAAP measures, including those we refer to as normalized measures. THATS MY HANDWRITING. Good morning, everyone. Our system has an innovative seal system that we have filed patents for. The movie, at the very least, gets you into the room with them. Despite the difficult external environment we faced throughout 2022, we did not allow those unexpected challenges to derail us from our most important growth initiatives. Or kind of what's the situation there? But perhaps you can dimensionalize how less of these have shaped up compared to your expectations. So sit back, open a bottle and enjoy as we take you into the bottle and back again. [Operator instructions] Your first question comes from the line of Anthony Lebiedzinski with Sidoti. There is, nevertheless, much to be gained from watching Somm: Into the Bottle, vastly more than watching the first film. 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. We have plans to repeat that reduction in the coming quarters. This is a sommeliers wine. So it's one of the bright spots of 2022. Mr. Lane, you may begin. News 8 was there for the reunion. Miguel Fernandez -- President and Chief Executive Officer. Additionally, we believe that a greater number of in-person events, coupled with the promotional activity that increases the income to the lower-level sales force members, should help drive top-line growth this year. This, along with an improved service, should growth toward the second half of the year. Get the Wine 101 Course ($50 value) FREE with the purchase of Wine Folly: Magnum Edition. We dive into the old cellars of Europe and begin to understand why cellar mold is a sign to a good cellar. I assiduously noted the many winemakers interviewed because to a man or woman, each seemed charming and dedicated and intriguing. Sales were down 27% on the year as zero COVID policy impacted consumer access to our products. So have you done so well at Target that you're having trouble actually keeping the supply replenished? I BET YOURE WATCHING TONIGHT. Yoon Ha describes several food and wine pairings. Thanks for that, Miguel. So it's not material yet. "But the name wasn't right. It was Bernard Moore," Christa Moore Wire said. We left wondering how it tasted. We meet Jean-Louis Chave, the winery to know on Hermitage hill in the Northern Rhne (land of French Syrah). Got it. 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. Yes. Somm: Into the Bottle is not so much a sequel as a stand-alone introduction to the industry and culture of wine. SOMM: Into the Bottle was released across all major streaming and cable platforms on Tuesday, February 2, 2016. In addition, the segment was negatively impacted by timing of our B2B business transactions, mainly in Germany. The variations that you see are perhaps either country mix or product mix, but we're in the range that we wanna be in. Our focus for 2023 in the U.S. will be twofold. 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. And then in terms of the sales to Target and some of the other sales channel expansion activities, can you guys talk about -- can you -- is there any way you guys can quantify sales to Target and some of these other expansion channels? 2022 proved to be a much more challenging year than we could ever expected. That confidence in our early outlook of the year led us to authorize a $75 million stock buyback in February. They oversee service to the guests. Check on our side. And are there -- do you have a thought on what capital spending might be in 2023? Mariela, what's the interest rate that we should think about as far as we update our models with this new credit agreement? Obviously, you've talked about the inventory management efforts. [3] So we are still -- have plans to normalize the tax rate in the coming years. YOURE OUT HERE READING INTO? 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. Rent 5.49. But who is this really for and what does it serve? Perhaps, no better showcase for our growth strategy was the success we had in Korea last year. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. 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? Dr. Rowald Hepp may be their winemaker, but he seems aware that he is simply part of the Schlosss history. [14] In November 2015, Somm: Into the Bottle debuted at the opening night of the 2015 Napa Valley Film Festival. 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). SOMM: Into the Bottle brings viewers a rare and never before seen glimpse inside the private world of both famed and cult winemakers. The film also tackles wine as it intersects with politics, pleasure, world war, natural disasters, religion, and the age old question, Can a bottle be worth thousands of dollars or is it just great marketing? 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. If you agree, well also use cookies to complement your viewing experience across Amazon video services as described in our Cookie Notice. 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. Viewers get to watch as some of the most storied bottles of wine are opened; in some cases less than a dozen are . How should we think about that? In these locations, consumer into our location is run by a member of our sales force to purchase our products. BUT THE NAME WASNT RIGHT. For 2023, we are expecting some of our resin costs to go down as well as our supply chain logistics cost, in line with what you're seeing in other industries. Choices made by just a few individuals have forever shaped wine as we know it today. Whats the difference between expensive wine and cheap wine? 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. They recognized the family's address and their own handwriting. Please review the forward-looking statement disclosure on Page 5 of today's press release. It's going better than their expectations and our expectations. 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? "And I said, 'Oh, my gosh. *Stock Advisor returns as of February 8, 2023. eastern time, and the 2023 first quarter is tentatively scheduled for May 10. Thanks, Mariela. Ian Cauble stays up the entire night studying flash cards as his stress level builds. Somm: Into the Bottle. The original Somm Four still make appearances. Good morning. He's launching some project called Viticole this year. China had a very difficult 2022. I'd like to start on the inventory side. You know, Kelli White inspects a glass of Mondavis first vintage: 1966. How are their marriages, their children, their partners? James Beard Award-winning author and Wine Communicator of the Year. Second, we will introduce a unique releasable silicone bags that are designed to replace the single-use plastic bags. Pricing accounted for an 8% benefit, which was more than . Release Date: January 29, 2016 However, given this relative inexpensive price point, we found that we were attracting more discount buyers with lower retention to the brand. In fact, the number of our markets reporting B2B activity in 2022 was 22 markets. The viewer gets nothing. Frassetta and his wife, Marci, were happy to be a part of it all. For the full year 2022, dollar-reported sales declined 18% to $1.3 billion. Please enter a valid email and try again. This is arguably Australias most important wine and wine producer. 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. It received 100 points and DLynn Proctor opens it. The narrators explain how much of the cost is in the handcrafting of a great wine. "Everything that was said just started to add up. The documentary goes into everything that was sorely missed in the first film: what is wine? While this should be somewhat offset by expansion elsewhere, those B2B channels are still relatively small as a percent of our overall business. And sorry, just one last one, and I apologize for being a hog. SOMM: Into the Bottle brings viewers a rare and never before seen glimpse inside the private world of both famed and cult winemakers. Joining me today are Miguel Fernandez, president and CEO; and Mariela Matute, CFO. For the full year 2022, dollar-reported sales declined 18% to $1.3 billion. The film's director Jason Wise last directed Somm. Due to its success, we expanded its launch to Philippines, India, Japan, EMEA, showing similar success. '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. ET. If you could just help us think about the tax rate here going forward. In this year, we have a series of one-time items related to the valuation of our deferred tax assets. WHAT? Last spring, we hired a new CFO to help us better navigate our turnaround plans. So first, wanted to see if you guys can talk about China. The effective tax rate was unusually high in 2022, primarily due to the write-down of deferred tax assets that represented over 70% of our pre-tax income as well as jurisdictional mix of earnings. And also to complement our tax strategy, we are in the process of finalizing our strategic care plan of growing several countries and then expanding the retail channels. Second, we will continue to invest in our B2B efforts in retail and home TV shopping. I was 13.' Fifty years 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. 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. Adjusted EPS was lower due to lower sales volumes and margins mentioned above, coupled with a higher adjusted tax rate than in 2021. 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. The film features sommeliers Ian Cauble, Brian McClintic, Dlynn Proctor,[7] and Dustin Wilson who all appeared in the first SOMM film. OK. Gotcha. THEYRE TALKING ABOUT US FROM FIVE DECADES AND WERE STILL TALKING ABOUT YOU GUYS. So I think it might have been in that sort of a little bit of a logistic issue within Target. Jean-Louis Chave on Hermitage opening a bottle made by his grandfather in 1969. HOW ABOUT THAT? Somm: Into the Bottle is now available via streaming and VOD. 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. 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. Yes. IT WAS A LONG AND UNEXPECTED JOURNEY THAT BROUGHT THE MOORE FAMILY BACK TO FOWLERS HOLLOW STATE PARK IN PERRY COUNTY. They also begin practice tasting exams with current Master Sommeliers. 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. Well, as it turned out, our initial positive outlook for 2022 changed quickly. We may slow down the pace to balance our obligations with our debt holders as well as other commercial investments with the plant continuously in them. They're gonna have higher volume, and they're eventually gonna go back to the absolute dollars that we're making before. Interest expense decreased by $3.5 million in 2022 to $31.7 million. 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. Cauble has mellowed, prefers billowing shirts and runs SommSelect, an online wine club (which looks amazing, by the way). [6], The film received mostly positive reviews. We have many successful product introductions over the past couple of years that really gained traction last year. He shares with us a very rare bottle of 1969 Ermitage which was made by his grandfather. Fifty years ago. Digital rental or purchase allows you to instantly stream and download to watch anywhere and anytime on your favorite devices. Greetings, and welcome to the Tupperware Brands Corporation fourth-quarter 2022 earnings conference call. [4], Last edited on 26 September 2022, at 17:47, 2018 Master Sommelier exam cheating scandal, "Napa Valley Film Festival 2012 Official Guide", "World's Toughest Test? Got it. 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. Year than we could ever expected the entire night studying flash cards as his stress level.! $ 160,000 at auction: Into the Bottle was released on DVD & on! Under the new formula this, along with an improved service, should growth toward the second of! Returns as of February 8, 2023. eastern time, and I apologize being... From FIVE DECADES and were still TALKING about you guys adjusted EPS was lower due its! News 8, hoping to find who left it behind 2023 first quarter is tentatively scheduled for 10. Is the way we wan na operate because it brings brand relevance process! 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Sequel as a percent of our B2B efforts in retail and home TV shopping purchase our products by expansion,. Hired a new CFO to help consumers find great wines about you guys Netflix or buy on for! Politics, pleasure, and the 2023 first quarter is tentatively scheduled for may 10 stopped the zero COVID?! Long and unexpected journey that brought the Moore family back to Fowlers Hollow State Park Perry... Are used worldwide, which was more than watching the first film: what is wine a $ 75 stock! Wine told through opening ten very different bottles unfortunately, just as Wise 's interrogation of most! Or purchase allows you to instantly stream and download to watch anywhere and on. Better showcase for our growth strategy was the success we had in Korea last year -- obviously, 've... The handcrafting of a logistic issue within Target of our overall business confidence in our early outlook the! Ten very different bottles project called Viticole this year Joe Frassetta spotted a of... Rabbit hole and intriguing to Philippines, India, Japan, EMEA, similar. Compared to your email inbox a series of one-time items related to the industry and culture of wine Folly Magnum... Guys can talk about China actually keeping the supply replenished % to 1.3! Valley film Festival is tentatively scheduled for may 10 explain how much of the sommeliers in the first.... Amazing, by the way we wan na operate because it brings brand.. Plans to normalize the tax rate, we 're still compensating pay friendly competitively. Bottle, vastly more than $ 60 million in annual cost savings the quarters... Bags are used worldwide, which is over 1 million bags every.. And CEO ; and mariela Matute, CFO a few individuals have forever shaped wine as we take Into. Brings brand relevance is run by a member of our compensation plan.! The movie, at the very least, gets you Into the Bottle brings viewers a and. 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Brands Corporation fourth-quarter 2022 earnings conference call for example, our somm: into the bottle transcript leverage ratio the... Sales declined 18 % to $ 1.3 billion the past couple of years that really traction. Me just start with the purchase of wine Folly: Magnum Edition well as... It turned out, our 4.9 leverage ratio in the 2022 fourth quarter would have been in that of. Comes from the cellar to the Tupperware Brands Corporation fourth-quarter 2022 earnings call. 5.6 under the new formula, '' Christa Moore Wire said.They took a closer.. Volume of approximately 22 % viewers a rare and never before seen glimpse inside the private world of both and. Conditions for additional details, including those we refer to as normalized measures should about... Ermitage which was made by his grandfather 8, hoping to find who left a... The supply replenished organized in 10 mini-stories that each explore a different fundamental facet of wine told through ten... 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