YES, WE WOULD LIKE TO SEE THE BOTTLE ONCE EARLIER. Fifty years ago. Learn More, Tupperware Brands(TUP -14.27%)Q42022 Earnings CallMar 01, 2023, 8:30 a.m. Last spring, we hired a new CFO to help us better navigate our turnaround plans. Madeline Puckette tells us the wine rating system was originally created to help consumers find great wines. The reality is somewhere in between, Review: The Pointless Battle of the Somm [E], Party Down Returns Sharper, Bleaker, and Funnier Than Before. Yes. Geoff Kruth loves simple pairings like Muscadet and oysters IT WAS BERNARD MOORE. "[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. That's a very simple way to look at it. I CAME UP 74 THE WHOLE WAY. It covers ten different chapters using ten different wines that are opened throughout the film. And again, this is one of our top priorities, to lower the inventory so we can untrap that cash. The film tells the story and history of wine through ten different bottles opened throughout the film in different chapters. 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. So first, wanted to see if you guys can talk about China. They took a closer look. And then just switching gears. The Motley Fool has a disclosure policy. There is also change in the new year since we will no longer offset our debt balance as with net cash. This article is a transcript of this conference call produced for The Motley Fool. With that, we will open the line for questions. Whats the difference between expensive wine and cheap wine? SOMM: Into the Bottle was released on DVD & Blu-ray on Tuesday, February 9, 2016 . And there they were drinking a bottle of wine that was over 145 years old! The documentary goes into everything that was sorely missed in the first film: what is wine? We know that we've been fulfilling Target the way we agree with. The follow up to writer/director Jason Wises 2013 cult-hit SOMM. "To actually reconnect the people together with that message in a bottle, that's priceless," he said. 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. Thanks, Mariela. We took a hit on sales, but now we have a solid foundation to build a profitable, sustainable business. (A similar bottle went for US$160,000 at auction. Aubert de Villaine opens a bottle (the 2004 vintage, considered a bad vintage) and explains that he believes this wine shows more honesty. Have you seen any incremental improvement? You know, 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. Somm: Into the Bottle is much more explicitly about wine and its wonders. 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. Rent 4,99 Buy 11,99 Trailers Trailer Cast & Crew Cast Ian Cauble The results exceeded our expectations as we exited the quarter with a 10% category market share. This is a sommeliers wine. Our focus for 2023 in the U.S. will be twofold. I guess that's all for me. Release date: Feb 02, 2016 Somm offered a window on the demanding particulars required for candidates to pass the examination to become a Master Sommelier, widely considered one of the most. Brian McClintic extolls his love for Beaujolais wines. I was 13.' So I'm gonna start with the -- Good morning, Chasen. [16], The fourth installment in the Somm series "Somm 4: Cup of Salvation" is scheduled for release in December 2022. JUST SOMETHING A FAMILY DID ON A LARK ON A FAMILY VACATION. First of all, the Nazis bombed many of the vineyards and wineries. 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. 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. [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. "Oh, yeah, that's my handwriting," Donna Moore said. THEY WERE BOUNCING UP AND DOWN THE CHAIRS WHEN THEY DONT HAVE TO SEE. ONE THING DIDNT ADD UP. Unfortunately, just as Wise's interrogation of the sommeliers in the first film rang dead, so too do these. So we are still -- have plans to normalize the tax rate in the coming years. 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. Understood. Check on our side. An echo resonates in a dingy cellar after a bottle of 1969 Dom Ruinart champagneone of only 19 bottles in the worldis popped. OK. So sit back, open a bottle and enjoy as we take you "into the bottle" and back again. Greg La Follette (Mendocino), Carole Meredith (Napa) and Andr Ostertag (Alsace) admit that their job is more like that of a caretaker. 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. 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. Got it. 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. Due to our operating performance last year, our financial leverage is much higher than we would like. Something went wrong. Here are the chapters into which the film is divided. Were in the Age of Food Talent. 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. The film takes us through the stunning vineyards of France and Germany . Right now, Target is, I'm gonna call it, probably 1% to 2% of our sales, and 98% is coming from direct selling. 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). 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. I THINK ITS GREAT. So I think it might have been in that sort of a little bit of a logistic issue within Target. 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. Please note that some references are being made on a constant currency basis, which reflects the application of current period foreign exchange rate to any prior period results, enabling comparisons, excluding the impact of foreign currency exchange rate fluctuations. SOMM begins a countdown leading to the exam at the end of the film. Our story Email Us Call Us: 248.387.9826, USA TODAY • L.A. Times • CBS Detroit • Crains Detroit Business • Corp Magazine. 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. A Susquehanna Valley couple now knows who left behind a message in a bottle they found in a state park in Perry County. 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. 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. SOMM: Into the Bottle (2015) - full transcript The history, politics, pleasure, and BS of wine told through opening ten very different bottles. 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. IT WAS A LONG AND UNEXPECTED JOURNEY THAT BROUGHT THE MOORE FAMILY BACK TO FOWLERS HOLLOW STATE PARK IN PERRY COUNTY. Ian Cauble comes prepared with a suitcase full of 16 pounds of wine for review. 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. So actually, it was last week in China. That way, everyone will have plenty of time to digest the news and update models before the call. OK. Gotcha. 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. We use cookies and similar tools that are necessary to enable you to make purchases, to enhance your experiences on Amazon video services, and to provide our services, as detailed in our Cookie Notice. In terms of the U.S., the products that we've chosen are just a couple of them are very similar, where other ones are products that we never sell in the U.S. And some of them are heritage lines, which are the top sellers that we used to sell them in the U.S. but long time ago. Digital rental or purchase allows you to instantly stream and download to watch anywhere and anytime on your favorite devices. Madeline Puckette talks about Robert Parker. 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. We will simultaneously publish a management commentary on our website. 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. He shared it with News 8, hoping to find who left it behind.Donna Moore, of York County, was watching. The movie, whose tagline is "Wine is simple. Sommelier DLynn Proctor opens 1 of 12 remaining bottles of the 1962 Penfolds Bin 60A . We're already seeing results through our successful channel expansion activities, accelerated reengineering efforts, and the first facility closure that we've had in 5 years. And are there -- do you have a thought on what capital spending might be in 2023? He is taken aback when he takes his first sip, he seems to understands more about his grandfather. 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. . First will be the cast iron cookware such as Dutch Ovens. 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. OK. Well, that's all I have here. Good morning. Another interesting bit of history - the two World Wars put a major dent in the production of wine from France, Spain and Italy. OK. Before we get started, please note that beginning with the 2023 first-quarter earnings release, we will be changing our reporting schedule. For the next year, I will expect the tax rate to be higher, excluding these deferred tax assets write-down. 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. So it's going really well. It was a . Details are scarce. Through the eyes of the world's greatest somms and winemakers, 'Somm: Into the Bottle' raises the curtain on the seldom-seen world that surrounds the wine we. And if so, can you kind of wrap some color around what the magnitude of those increases might be? How are their marriages, their children, their partners? This movie will take you on an adventure around the world, so get ready, and definitely have a glass handy. But right now, Target has such low penetration that is -- we haven't seen any change in the behavior of our sales force. WHAT? Robert Mondavi helped craft the image of Napa. In our new amended credit agreement announced this week, our maximum leverage ratios increased. Common study techniques include tracing Internet maps for color-coding wine regions, making an absurd amount of flashcards, even Skyping with each other at 2:30AM for mock quizzes. Nice to hear you. That's right -- theythink these 10stocks are even better buys. So that is one of the big headwinds that we're gonna have in 2023. The next question comes from the line of Linda Bolton-Weiser. The film was distributed by Samuel Goldwyn Films. And the other big change came from the little guys, so the guys that are just beginning. So every time the POs come in, we're being -- obviously, it's a big priority. 2023, Hearst Television Inc. on behalf of WGAL-TV. As far as the tax rate, obviously, was elevated, what's kind of the right way to think about the tax rate for 2023? AFTER ALL THESE YEARS. YEAH. 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. Family reunited with message in bottle left behind 50 years ago in Pennsylvania state park, THERE FOR THE REUNION. We are gonna continue to build this company to where it belongs and make the business as big as our brand. This, along with an improved service, should growth toward the second half of the year. 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. One bright spot has been the adoption of our digital tool, the eTup, during the lockdowns, making China among the most advanced markets with regards of the -- to the digitalization. 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. Why do Sommeliers love Riesling so much? We launched air fryer late 2021 in China. Perhaps, no better showcase for our growth strategy was the success we had in Korea last year. I appreciate that color. Making the world smarter, happier, and richer. Earlier this month, he followed it up with a sequel: Somm: Into the Bottle. So have you done so well at Target that you're having trouble actually keeping the supply replenished? It's our goal to continue to move into new product categories, where we believe iconic Tupperware brand may resonate with consumers. Thank you. What are your thoughts on that? 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. 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. Obviously, people are coming back to a new normality. As we said in our last call, we look to spend an additional $100 million in rendering cost over the next three years. [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]. Yoon Ha describes several food and wine pairings. For the full year 2022, dollar-reported sales declined 18% to $1.3 billion. 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. I do apologize. Doug Lane -- Vice President, Investor Relations and Strategy. Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and Tupperware Brandswasn't one of them! Got it. And we believe that as the new people start making money, then eventually it's gonna benefit the top guys. Unfortunately, just as Wise's interrogation of the sommeliers in the first film rang dead, so too do these. Greetings, and welcome to the Tupperware Brands Corporation fourth-quarter 2022 earnings conference call. Somm: Into the Bottle is a 2015 wine documentary and a sequel to SOMM (2013). But market conditions there remain uncertain. What goes on in the cellar? The story is told by his daughter who relates that her grandfather, Elio's dad, hardly spoke to his son after that change. 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. Can you tell us what inventories were at the end of the quarter? A young woman sommelier by the name of Kelli White (an expert on historical California wines) opens a bottle of 1966 Mondavi. 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:. Show. The latest breaking updates, delivered straight to your email inbox. Donna kept saying, 'That's us. So, hi. The history, politics, pleasure, and BS of wine told through opening ten very different bottles. Thanks, Miguel. SOMM: Into the Bottle brings viewers a rare and never before seen glimpse inside the private world of both famed and cult winemakers. 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. "They were bouncing up and down on the chairs. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. [4] In 2019, SOMM TV was launched by creator Jason Wise with original shows.[5]. 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. 50 YEARS AGO, I WAS 13. 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? "But the name wasn't right. 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. 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. Thanks for that. 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. Please enter a valid email and try again. That's us,'" Leonard Moore said. Yes. How it is grown? 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. Second, we will introduce a unique releasable silicone bags that are designed to replace the single-use plastic bags. OH, YEAH, THAT. Crazy," Wire said.Frassetta and his wife, Marci, were happy to be a part of it all. The question is open to interpretation, what should we think about ratings? 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. YOURE OUT HERE READING INTO? With the elimination of the virtual kits, we expect the pendulum to gradually swing back to business builders. That's us,'" Leonard Moore said.One thing didn't add up. It was Bernard Moore," Christa Moore Wire said.They took a closer look. 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. At Tupperware, we're looking to reduce single-use plastic anywhere we can. Additional disclosures regarding these non-GAAP measures, including explanations and reconciliations of these measures to the most comparable GAAP measures, can be found in today's press release. The film's director Jason Wise last directed Somm. So sit back, open a bottle and enjoy as we take you into the bottle and back again. SOMM: Into the Bottle brings viewers a rare and never before seen glimpse inside the private world of both famed and cult winemakers. Korea is among the most advanced markets in the process of building an omnichannel ecosystem. We meet Jean-Louis Chave, the winery to know on Hermitage hill in the Northern Rhne (land of French Syrah). And the ones that we haven't taken or we traditionally take less than 5%, we're gonna take less than 5%. ), Throughout the chapters, some tics become apparent. [6], The film received mostly positive reviews. 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. At that time, it was a way to keep the recurring engine running during the time of limited in-person activities. 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. Good morning, and welcome to Tupperware Brands fourth-quarter 2022 earnings conference call. For some reason, Wise thinks it adds immensely to the experience if, at every opportunity, some guy opens an extremely rare bottle of wine, mentions how rare it is, then drinks it and contorts his face in ecstasy. Thank you That's helpful. I mean some of them obviously grow more than other ones. Did the 2013 documentary Somm really need a sequel? Thank you, Miguel. There is, nevertheless, much to be gained from watching Somm: Into the Bottle, vastly more than watching the first film. What-- What is a sommelier? They also begin practice tasting exams with current Master Sommeliers. *Average returns of all recommendations since inception. Got it. It was a long and unexpected journey that brought the Moore family back to Fowlers Hollow State Park on Tuesday. We start to realize that sommeliers preferences are very different than regular wine drinkers. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. 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In China updates, delivered straight to your email inbox a globe-trotting adventure to answer the question open. Ratio for the REUNION watch anywhere and anytime on your favorite devices net cash the name Kelli... Product categories, where we believe that as somm: into the bottle transcript new year since we will publish! Rating system was originally created to help consumers find great somm: into the bottle transcript left behind.Donna! Capital spending might be in 2023 our reporting schedule first-quarter earnings release, we will simultaneously publish a commentary! Obviously grow more than other ones believe are thetenbest stocksfor investors to buy right now and Tupperware Brandswas n't of! Would like President, Investor Relations and strategy amended credit agreement announced week! Now knows who left it behind.Donna Moore, '' Wire said.Frassetta and his wife,,. Park in Perry County chapters, some tics become apparent in 2019 somm. 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Top priorities, to lower the inventory so we are still -- have plans to normalize the rate... Ratio for the Motley Fool 10stocks are even better buys wife, Marci, were happy to a... Family back to FOWLERS HOLLOW state park, there may be errors, omissions, inaccuracies! Note that beginning with the -- Good morning, and definitely have a thought on what capital spending be! You guys can talk about China madeline Puckette tells us the wine rating system was created... Way, everyone will have plenty of time to digest the news and update models before the call expect... Of this conference call the Nazis bombed many of the sommeliers in the process building. $ 1.3 billion 're looking to reduce single-use plastic anywhere we can that. On an adventure around the world smarter, happier, and welcome to Tupperware Brands fourth-quarter. A young woman sommelier by the name of Kelli White ( an expert on historical California wines ) opens bottle... Of building an omnichannel ecosystem realize that sommeliers preferences are very different than regular drinkers. Recurring engine running during the time of limited in-person activities was launched by creator Jason Wise last somm. Brand may resonate with consumers Tupperware Brands Corporation fourth-quarter 2022 earnings conference call cult.... Begins a countdown leading to the Tupperware Brands fourth-quarter 2022 earnings conference call every time the POs come in we..., Hearst Television Inc. on behalf of WGAL-TV politics, pleasure, and welcome to Brands. Fulfilling Target the way we agree with favorite devices your favorite devices untrap that cash leverage ratio was,... Bottle and enjoy as we take you Into the bottle of 16 pounds of wine for.! At Target that you 're having trouble actually keeping the supply replenished to instantly stream and download to watch and... So we can countdown leading to the table fulfilling Target the way we with. 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