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. We're in a good space. Check on our side. Or like how is that going? [3] So sit back, open a bottle and enjoy as we take you "into the bottle" and back again. As was the case for the first movie, the film is visually breathtaking. An echo resonates in a dingy cellar after a bottle of 1969 Dom Ruinart champagneone of only 19 bottles in the worldis popped. We also use these cookies to understand how customers use our services (for example, by measuring site visits) so we can make improvements. And in fairness, each chapter contains some really interesting stories. DONNA MOORE WAS WATCHING. Got it. Another interesting bit of history - the two World Wars put a major dent in the production of wine from France, Spain and Italy. And those investments continue from time to time. Earlier this month, he followed it up with a sequel: Somm: Into the Bottle. 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. WOULD YOU LIKE TO SEE IT? 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. So I think it might have been in that sort of a little bit of a logistic issue within Target. Still, overall company, the -- we're just initiating, obviously, our relationship with all these retailers around the world. But you got to remember that our sales force, they normally -- on any given month, they sell over 200 different SKUs, whereas we have a very limited amount in Target. SOMM begins a countdown leading to the exam at the end of the film. When consumers have access to Tupperware products, they choose them. They all spend 6- to 10-hour days tasting, studying flashcards, and speculating on each others sanity. It feels like the saddest moment of the film when he tries to explain that wine is meant to be enjoyed, not bought and sold like a commodity. The movie, whose tagline is "Wine is simple. Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and Tupperware Brandswasn't one of them! For the full year 2022, dollar-reported sales declined 18% to $1.3 billion. Steve Matthiasson looks into a pile of wreckage that used to be an entire vintage of his wine. 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. In addition, the segment was negatively impacted by timing of our B2B business transactions, mainly in Germany. So Chasen, again, Miguel here. 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 then just switching gears. AND I SAID, OH, MY GOSH. 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. That way, everyone will have plenty of time to digest the news and update models before the call. Sales in Europe decreased 23% in local currency, driven by lower sales force activity and lower consumer spending because of the continued deceleration of consumer sentiment, higher inflation, higher gas prices, and price increases. 6.9 1 h 30 min 2018 16+. Just wanted to confirm if that's still the case. [13], In January 2015, distributor Samuel Goldwyn Films announced they had acquired exclusive rights to a sequel entitled Somm: Into the Bottle, with a theatrical release planned for later in the year. Great. That's a very simple way to look at it. In 2022, Korea surpassed Indonesia, our third-largest market in the Asia Pacific region, behind China and Malaysia. I BET YOURE WATCHING TONIGHT. 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. A Susquehanna Valley couple now knows who left behind a message in a bottle they found in a state park in Perry County. 2022 also had an extra week, which provided for about 1% of growth. So it's a matter of time to get there. But yeah, I mean things are going well, really well for us in Target. The film takes us through the stunning vineyards of France and Germany . JOE FOR SANTA SPOTTED A GLASS BOTTLE HERE WITH A DECADES OLD MESSAGE INSIDE IT. 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. Thanks for that. This article is a transcript of this conference call produced for The Motley Fool. I THINK ITS GREAT. AFTER ALL THESE YEARS. Excluding unfavorable currency exchange, sales declined 14%. During a practice tasting with a Master Sommelier, Ian Cauble becomes convinced that someone has switched his wines. In Chapter 5, there's a range of interesting economic analysis which undergirds that vast differences between New World and Old World wine. So that is one of the big headwinds that we're gonna have in 2023. Thanks for that. The first film dwelt much to its detriment,I thought then and now on the grueling process by which these men earned their Master Sommelier certification. And then just switching over as far as the new credit agreement. Jean, whose family has been making Trimbach wines for 13 generations, opens a very rare bottle of 1962 Clos Sainte Hune and shares it with his son. The viewer gets nothing. What have you seen since they stopped the zero COVID policies? 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. So let me now answer your question about interest rates. 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. Must Read Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. "They were bouncing up and down on the chairs. A sequel to the 2012 original documentary "Somm," this film focuses on the history of winemaking through 10 different chapters featuring 10 different bottles of wine. First will be the cast iron cookware such as Dutch Ovens. 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. SOMM: Into the Bottle brings viewers a rare and never before seen glimpse inside the private world of both famed and cult winemakers. Its through these storiestold by charismatic wine communicatorsthat you begin to paint the picture of what wine really is. Excluding unfavorable currency exchange, sales declined 14%. Please review the forward-looking statement disclosure on Page 5 of today's press release. OK. Well, that's all I have here. How many people understand how wine is produced? The story goes on and the narrators tell us how wine travelled to the New World. A young woman sommelier by the name of Kelli White (an expert on historical California wines) opens a bottle of 1966 Mondavi. [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]. So it's -- obviously, it's a journey, and we're gonna continue to learn. The question is open to interpretation, what should we think about ratings? Korea is among the most advanced markets in the process of building an omnichannel ecosystem. Today's release is preliminary as management completes the year-end procedures and external audit with open items mainly related to tax matters. Additional information about factors that could potentially impact our financial results will be included in our Form 10-K for the 2022 fiscal year, subsequent filings with the SEC, and in our press release filed this morning. They oversee service to the guests. When you buy through links on our site, we may earn an commission. Jean-Louis Chave on Hermitage opening a bottle made by his grandfather in 1969. For example, if it hadnt been for Prohibition (19201933) we might actually have much more Italian wine in America than French wine! No surprise, I guess. We dive into the old cellars of Europe and begin to understand why cellar mold is a sign to a good cellar. OK. And then can you just maybe give a little more color on the North American decline? With the elimination of the virtual kits, we expect the pendulum to gradually swing back to business builders. [4] The chapters include The Winemaker, The Vintage, The History, The Wars, The New World, The Cost, The Barrels, The Point Scores, The Sommelier, and The Memory. First, in our direct selling business, we're phasing out the virtual storage kit that we introduced in the early stages of the pandemic. By Brian D. Renner Jan. 25, 2016. 2023, Hearst Television Inc. on behalf of WGAL-TV. Having winemakers and sommeliers opening ultra-rare bottles like a 2004 Domaine de la Romanee-Conti called DRC, natch or a 1969 Hermitage or the legendary 1962 Penfolds Bin 60A Coonawarra Cabernet Sauvignon Barossa Shiraz is neat party trick, I suppose, but it reads like Wise just beating on his chest. So for our tax rate, we expect the tax rate to continue to be elevated. To make the world smarter, happier, and richer. The movie, at the very least, gets you into the room with them. Got it. Cost basis and return based on previous market day close. StarringSilvia Altare Ian Cauble Fred Dame Aubert De Villaine Geoff Kruth Directed byJason Wise Therefore, we will expect meaningfully higher interest expenses in 2023 than what we reported in 2022. Pricing accounted for an 8% benefit, which was more than . China had a very difficult 2022. 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 Official Trailer 1 (2015) - Wine Documentary HD Rotten Tomatoes Indie 2.18M subscribers Subscribe Share Save 104K views 8 years ago Subscribe to TRAILERS:. And fifth, new leadership. Additional foreign currency was at $0.81 per share hit to EPS for the year. And sorry, just one last one, and I apologize for being a hog. SOMM: Into the Bottle was released across all major streaming and cable platforms on Tuesday, February 2, 2016. The film's director Jason Wise last directed Somm. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. And as we do that, it would take some time to match our tax structure to our countries where we are rapidly growing. It was a long and unexpected journey that brought the Moore family back to Fowlers Hollow State Park on Tuesday. Invest better with The Motley Fool. As you may imagine, selling products into retail chain is a very different proposition from operating a direct selling distribution model. The 100-point system, which was used by famous classic wine critic, Robert Parker at Wine Advocate , is even more popular today. 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. Thank you, Doug. He's launching some project called Viticole this year. After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Got it. Advertisement. Robert Mondavi helped craft the image of Napa. [18] The show, renamed Uncorked, debuted on November 10, 2015. 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. Thanks for that, Miguel. Then, we travel back to France, to Burgundy, to Domaine Romane-Conti , which is the worlds most expensive wine, a Pinot Noir. 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. 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). First, increase financial flexibility. Well, Somm: Into The Bottle is a completely different animal. The four candidates appearing as themselves are Ian Cauble, Brian McClintic, Dustin Wilson and DLynn Proctor. 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 Thank you very much. Ultimately, wine is something of a time capsule, especially when you age it for a long time. Miguel Fernandez -- President and Chief Executive Officer. Whetstones New Agency Wants to Represent It. Rent 5.49. Crazy," Wire said. SOMM: Into the Bottle was released across all major streaming and cable platforms on Tuesday, February 2, 2016. IF YOU REALLY THINK YOU KNOW WHAT IT TOOK TO KIND OF MAKE THIS HAPPEN AND THAT IT DID HAPPEN AT ALL, ITS REALLY PRETTY AMAZING. Please also note that all references, unless otherwise noted, are being made on a continuing operations basis. Trimbach explains that this is why you cant find any Alsace Riesling vintages before the 1940s. YOURE OUT HERE READING INTO? Your next question comes from the line of Chasen Bender with Citigroup. Dlynn Proctor drinks a 100-point wine and describes it. So actually, it was last week in China. There are no further questions at this time. "[12], The film was named best documentary feature at the 2013 San Luis Obispo Film Festival. It was a . [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? That's us,'" Leonard Moore said. [4] In 2019, SOMM TV was launched by creator Jason Wise with original shows.[5]. OH, YEAH, THAT. I co-founded Wine Folly to help people learn about wine. 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. Please enter a valid email and try again. We eliminated that virtual kit. 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. There is, nevertheless, much to be gained from watching Somm: Into the Bottle, vastly more than watching the first film. Thanks, Miguel. So every time the POs come in, we're being -- obviously, it's a big priority. Learn More, Tupperware Brands(TUP -14.27%)Q42022 Earnings CallMar 01, 2023, 8:30 a.m. And also as a -- just as a quick other question. Why do Sommeliers love Riesling so much? It's about everything," focuses on the story of wine around the world and how it is made. THEYRE TALKING ABOUT US FROM FIVE DECADES AND WERE STILL TALKING ABOUT YOU GUYS. WHEN THEIR ANNE SHANNON WGAL NEWS 8. [Operator instructions] Your first question comes from the line of Anthony Lebiedzinski with Sidoti. 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. AND WERE TALKING ABOUT THEM HERE ON NEWS 8. We will protect gross margins with additional price increases as necessary. In the Ruinart Champagne cellar with chef de cave, Frdric Panaotis. Weve done our best to note most of the wines and people in this film. While it is early days, we have already seen some favorable movement in those selling markets where we eliminated the virtual kits. Thanks, Mariela. We put some capex plan that is similar to what we executed in 2022. But right now, Target has such low penetration that is -- we haven't seen any change in the behavior of our sales force. 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. Have you seen any incremental improvement? A third film, SOMM 3, released in 2018. Family reunited with message in bottle left behind 50 years ago in Pennsylvania state park, THERE FOR THE REUNION. 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. And good morning, everybody. 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. JUST SOMETHING A FAMILY DID ON A LARK ON A FAMILY VACATION. That's us,'" Leonard Moore said.One thing didn't add up. *Average returns of all recommendations since inception. 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. BLAIN, Pa. . 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? The next question comes from the line of Linda Bolton-Weiser. The film features sommeliers Ian Cauble, Brian McClintic, Dlynn Proctor,[7] and Dustin Wilson who all appeared in the first SOMM film. This is arguably Australias most important wine and wine producer. So we are carrying good momentum into 2023. 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. They're gonna have higher volume, and they're eventually gonna go back to the absolute dollars that we're making before. Good morning, and welcome to Tupperware Brands fourth-quarter 2022 earnings conference call. Available from various digital retailers including Amazon Video, iTunes, Google Play, Apple, Vudu and others. Mariela Matute -- Chief Financial Officer. I will now turn the call over to Miguel Fernandez for closing remarks. 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. 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. 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 will be available for Q&A following our prepared remarks. [17], In March 2015, Esquire Network announced that one of its series for the 2015 season would be a TV series with a working title Somm, following six aspiring master sommeliers from New York as they prepare for the Court of Master Sommeliers exam. The 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. Got it. Adjusted EPS was lower due to lower sales volumes and margins mentioned above, coupled with a higher adjusted tax rate than in 2021. 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. WHAT? In the summer, we hired a new executive vice president of supply chain to help us optimize our supply chain network and improve service levels. I assiduously noted the many winemakers interviewed because to a man or woman, each seemed charming and dedicated and intriguing. With 10 days left, tensions are high and everyone is on edge as each tries to cram the extensive history, geography, and culture of wine into their brain before exam day that takes place in Dallas, Texas. 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. And again, this is one of our top priorities, to lower the inventory so we can untrap that cash. Our system has an innovative seal system that we have filed patents for. I guess that's all for me. I think it's for us is a learning and it's balancing. For example, our 4.9 leverage ratio in the 2022 fourth quarter would have been 5.6 under the new formula. 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. Aubert de Villaine opens a bottle (the 2004 vintage, considered a bad vintage) and explains that he believes this wine shows more honesty. 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. BUT THE NAME WASNT RIGHT. "[10] The NY Post praised the film for doing "..a fairly impressive job of making wine tasting somewhat cinematic despite its being essentially unfilmable. So it's going really well. Yoon Ha thinks a basic hot dog is awesome with Beaujolais, and Madeline Puckette says Chili goes shockingly well with Spanish Cava. The U.S. was further impacted by a longer-than-anticipated adoption of our compensation plan changes. In fact, the number of our markets reporting B2B activity in 2022 was 22 markets. He is almost speechless. 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. Weened onMichael Apted, I expected the Somm follow-up to have some update, but, alas, there is none. So we have a very supportive bank group with our -- across our negotiation process. Davidson -- Analyst. [: Hulu] [No. We left wondering how it tasted. Joining me today are Miguel Fernandez, president and CEO; and Mariela Matute, CFO. 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. EVERYTHING THAT WAS SAID JUST STARTED TO ADD UP. IT WAS A LONG AND UNEXPECTED JOURNEY THAT BROUGHT THE MOORE FAMILY BACK TO FOWLERS HOLLOW STATE PARK IN PERRY COUNTY.

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