*Stock Advisor returns as of February 8, 2023. eastern time, and the 2023 first quarter is tentatively scheduled for May 10. Or like how is that going? Elsewhere among our big 4, the U.S. and Mexico were impacted by nonrecurring and overall sales force productivity as well as lower volumes due to price increases. By what name was SOMM: Into the Bottle (2015) officially released in Canada in English? And this is the way we wanna operate because it brings brand relevance. I'll pass it. 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. First of all, the Nazis bombed many of the vineyards and wineries. We should also benefit from the recent returned in-person events since that's where recognition and training is most effective. [9] The LA Times' critic Kenneth Turan called the film "glib but ultimately engaging. Yes. 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. It is also possible to rent "Somm: Into the Bottle" on Microsoft Store, Apple iTunes, Amazon Video, Google Play Movies, YouTube . 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. 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. 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. The original Somm Four still make appearances. Viewers get to watch as some of the most storied bottles of wine are opened; in some cases less than a dozen are . If you can remember, the first Somm film (2012) dives full force into the lives of four sommeliers as they struggle for the title of Master Sommelier. For the full year 2022, dollar-reported sales declined 18% to $1.3 billion. 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 MOORES CALL IT A MIRACLE TO ONCE AGAIN CATCH YOUR CHERISHED MEMORIES OF DAYS GONE BY. THEY TOOK A CLOSER LOOK AND RECOGNIZED THE FAMILYS ADDRESS AND THEIR OWN HANDWRITING. 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. Review: The Pointless Battle of the Somm First, improve service both in product delivery and systems reliability. BUT THE NAME WASNT RIGHT. They also begin practice tasting exams with current Master Sommeliers. Joining me today are Miguel Fernandez, president and CEO; and Mariela Matute, CFO. Thank you, Doug. 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. Due to its success, we expanded its launch to Philippines, India, Japan, EMEA, showing similar success. It covers ten different chapters using ten different wines that are opened throughout the film. 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. Added to that, Brazil is pursuing opportunities in e-commerce, loyalty programs, Tupperware stores, premium brand partnerships, and retail B2B. Thanks for that. 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. So basically, that is a friendly proposition for our consumer but not a friendly proposition for a person who is starting a business because, obviously, everyone has access to that 25% discount, so I don't have the space to make money. While this should be somewhat offset by expansion elsewhere, those B2B channels are still relatively small as a percent of our overall business. These were partially offset by strong performance in Korea, as Miguel highlighted earlier. [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, increase financial flexibility. And there they were drinking a bottle of wine that was over 145 years old! Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. What are your thoughts on that? Making the world smarter, happier, and richer. When you buy through links on our site, we may earn an commission. What have you seen since they stopped the zero COVID policies? 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. In 2022, Korea surpassed Indonesia, our third-largest market in the Asia Pacific region, behind China and Malaysia. Chief among them is the high cost of living and the economic imperative of the New World, a pressure, many winemakers say, that results in more crowd-pleasing, less adventuresome wines. There was lots of spitting, a fair amount of machismo, some mishegoss, some tsuris, and a little bit of naches. 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. "[10] The NY Post praised the film for doing "..a fairly impressive job of making wine tasting somewhat cinematic despite its being essentially unfilmable. If you could just help us think about the tax rate here going forward. 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. Learn More, Tupperware Brands(TUP -14.27%)Q42022 Earnings CallMar 01, 2023, 8:30 a.m. So as of today, we're confident that we will be able to operate without substantial doubt in 2023. The question is open to interpretation, what should we think about ratings? The film tells the story and history of wine through ten different bottles opened throughout the film in different chapters. *Average returns of all recommendations since inception. So basically, 2022 was a really tough year from the pricing point in the U.S. As you know, we had inflations everywhere in the world, really high. Yes. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. OK. Davidson -- Analyst. While he leads on, Brian McClintic (from Somm 1) explains how even top experts on Burgundy (Bourgogne) will never in their life enter the cellar at DRC. "[12], The film was named best documentary feature at the 2013 San Luis Obispo Film Festival. OH, YEAH, THAT. To learn more about how and for what purposes Amazon uses personal information (such as Prime Video Watch History), see our Privacy Notice. In the Ruinart Champagne cellar with chef de cave, Frdric Panaotis. Ultimately, wine is something of a time capsule, especially when you age it for a long time. 53 /// 2020] We will be available for Q&A following our prepared remarks. These events, coupled with ongoing inflationary pressures, strengthening dollar, and rising interest rates, had a major impact on consumers globally and also in our financial performance throughout 2022. It was Bernard Moore," Christa Moore Wire said.They took a closer look. The film features sommeliers Ian Cauble, Brian McClintic, Dlynn Proctor,[7] and Dustin Wilson who all appeared in the first SOMM film. For the next year, I will expect the tax rate to be higher, excluding these deferred tax assets write-down. Whats the difference between expensive wine and cheap wine? Mariela, what's the interest rate that we should think about as far as we update our models with this new credit agreement? However, we will issue our earnings release tonight before -- after the market close. 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 like can you just give some color on why that was so disruptive? 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. AND 50 YEARS LATER, IT BRINGS BACK MEMORIES. OK. And then can you just maybe give a little more color on the North American decline? WHAT? I will now turn the call over to Miguel Fernandez for closing remarks. Details are scarce. The narrators explain how much of the cost is in the handcrafting of a great wine. 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. It seeks to render these men retroactively sane by showcasing the manifold wonders of wine. By Brian D. Renner Jan. 25, 2016. Doug Lane -- Vice President, Investor Relations and Strategy. China had a very difficult 2022. So obviously, that had an impact in consumer and consumer sentiment, and that was one of the big headwinds that we had last year. Looking forward to seeing you in three months. 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. So it's a matter of time to get there. Here are the chapters into which the film is divided. Thank you very much. Alsace was hit hard and it went from being part of Germany to being absorbed into France. And just given how much cost inflation there's been this year, is there any way to dimensionalize how much of that inventory is kind of up on a volume basis? SOMM: Into the Bottle brings viewers a rare and never before seen glimpse inside the private world of both famed and cult winemakers. Excluding unfavorable currency exchange, sales declined 14%. ET. I just had technical difficulties. Ian Cauble stays up the entire night studying flash cards as his stress level builds. The film is organized into 10 chapters, each with a focused story that shows a different side (and style) of wine. 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. For example, our 4.9 leverage ratio in the 2022 fourth quarter would have been 5.6 under the new formula. 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. Geoff Kruth loves simple pairings like Muscadet and oysters And then just switching gears. Frassetta and his wife, Marci, were happy to be a part of it all. So the way it was designed before was that every time we grew, our variable costs grew just as much, so we couldn't capitalize on the growth in terms of bottom line. They recognized the family's address and their own handwriting. //]]> It was a . For the full year 2022, dollar-reported sales declined 18% to $1.3 billion. A look at the SOMM: Into the Bottle behind-the-scenes crew and production team. AND I SAID, OH, MY GOSH. In addition, the segment was negatively impacted by timing of our B2B business transactions, mainly in Germany. 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. AND HIS WIFE, MARCY. 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 Ian Cauble (from the 1st Somm film) opens his bottle of 1985 Elio Altare Barolo and tells us the story. official plot version from samuelgoldwynfilms.com. YES, WE WOULD LIKE TO SEE THE BOTTLE ONCE EARLIER. Thanks, Mariela. Through the eyes of the worlds greatest somms and winemakers, 'Somm: Into the Bottle' raises the curtain on the seldom-seen world that surrounds the wine we drink by allowing viewers intimate access to the most accomplished sommeliers in the world, as well as to some of the most prestigious winemakers working today. Crazy," Wire said. Got it. "[9] Decanter Magazine said, "This fascinating film is sure to entertain a broad and attentive audience. With the elimination of the virtual kits, we expect the pendulum to gradually swing back to business builders. SOMM begins a countdown leading to the exam at the end of the film. The movie, at the very least, gets you into the room with them. Thus, America sales increased 10% in local currency, driven primarily by Argentina, from a larger total and active sales force, including from higher retention, higher productivity, as well as higher prices due to inflation. The freshest news from the food world every day. JUST SOMETHING A FAMILY DID ON A LARK ON A FAMILY VACATION. "And I said, 'Oh, my gosh. [3] I'd like to at least see how they mellowed, if they mellowed, and what they feel about their life. Aubert de Villaine opens a bottle (the 2004 vintage, considered a bad vintage) and explains that he believes this wine shows more honesty. Excited to spend into new channels of distribution, I'm cautiously optimistic that the surge of inflation in 2021 was behind us. 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. Its 2014 and an earthquake just rocked Napa Valley. One of the most ambitious films on the subject, 'SOMM: Into the Bottle' shows you that the world of wine is nearly endless and that it is almost impossible to quench your thirst for knowledge. So first, wanted to see if you guys can talk about China. Second, we will introduce a unique releasable silicone bags that are designed to replace the single-use plastic bags. "[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. 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. The 100-point system, which was used by famous classic wine critic, Robert Parker at Wine Advocate , is even more popular today. [2] Directed by Jason Wise, a sequel, Somm: Into the Bottle, was released in 2015 and a third film, Somm 3, came out in October 2018. Brian McClintic extolls his love for Beaujolais wines. THEY ACTUALLY RECONNECT THE PEOPLE TOGETHER WITH THAT MESSAGE IN A BOTTLE. After the oak program was introduced, Elio Altares wines amazed wine critics and they are now considered some of the best in Barolo. [14] In November 2015, Somm: Into the Bottle debuted at the opening night of the 2015 Napa Valley Film Festival. 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. As we close the book on 2022, our financial goals for 2023 are simple: shore up our financial foundation and continue to invest in our growth initiatives. We will have a laser focus on reducing our inventory levels and rightsizing our fixed cost base, and optimizing our manufacturing and supply chain footprint. 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. So every time the POs come in, we're being -- obviously, it's a big priority. I SHARED IT WITH NEWS 8, HOPING TO FIND WHO LEFT IT BEHIND. Digital rental or purchase allows you to instantly stream and download to watch anywhere and anytime on your favorite devices. So that is one of the big headwinds that we're gonna have in 2023. 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. In these locations, consumer into our location is run by a member of our sales force to purchase our products. YEAH. While it's still early days, these initiatives help validate that our growth strategy to expand the consumer access to our products beyond the direction of distribution channel. 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. "Everything that was said just started to add up. 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. Interest expense decreased by $3.5 million in 2022 to $31.7 million. 905 PARKWAY BOULEVARD. Jean Trimbach shares his familys greatest wine, a bottle of 1962 Clos Sainte Hune with his son. It might have been probably back luck. That's a very simple way to look at it. Please review the forward-looking statement disclosure on Page 5 of today's press release. Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and Tupperware Brandswasn't one of them! In Chapter 5, there's a range of interesting economic analysis which undergirds that vast differences between New World and Old World wine. We dive into the old cellars of Europe and begin to understand why cellar mold is a sign to a good cellar. The U.S. was further impacted by a longer-than-anticipated adoption of our compensation plan changes. "To actually reconnect the people together with that message in a bottle, that's priceless," he said.The Moores call it a miracle to once again capture cherished memories of days gone by. But perhaps you can dimensionalize how less of these have shaped up compared to your expectations. I CANT IMAGINE SITTING WATCHING THE NEWS AND REALIZING, WAIT A MINUTE, THATS US. So Chasen, again, Miguel here. They oversee service to the guests. We plan to file our 10-K before the deadline of March 16. We get to hear from some of the worlds top sommeliers about their favorite wine and food pairings. "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. Mr. Lane, you may begin. The Motley Fool has no position in any of the stocks mentioned. They are numerous and not parallel, which is irksome: In each chapter, Wise follows a formula. Our focus for 2023 in the U.S. will be twofold. They all spend 6- to 10-hour days tasting, studying flashcards, and speculating on each others sanity. 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. But the bulk of Somm: Into the Bottle is a loving, caressing view of wine around the world. And in fairness, each chapter contains some really interesting stories. 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. She did note that the film was "an entree into a little-known world. He does point out, somewhere in the beginning, that wine does grow in the most beautiful regions of the world, so in some ways, he's got it made. "Oh, yeah, that's my handwriting," Donna Moore said. Each vintage is different and as wine ages it changes. Click Customize Cookies to decline these cookies, make more detailed choices, or learn more. 2022 proved to be a much more challenging year than we could ever expected. Fifty years ago. The way we saw it is that when it opened up, obviously, a lot of people got sick, right? Friday night, baby! I believe on the pricing side, you've mentioned further price increases expected in '23. 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. 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. 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. As far as the tax rate, obviously, was elevated, what's kind of the right way to think about the tax rate for 2023? We believe we're still compensating pay friendly and competitively compared to other companies. From those questions to how many hands touch a bottle, to why wine costs what it costs, to how certain wines end up on a wine list, this is a never before seen look into the world of wine. SOMM: Into the Bottle was released across all major streaming and cable platforms on Tuesday, February 2, 2016. We feel that we're already protecting our margin. Yes. There are no further questions at this time. Finally, Brian McClintic shares one of his favorite wines, a natural wine from Fleurie in Beaujolais by Jean-Louis Dutraive . The Motley Fool has a disclosure policy. I was 13.' 'SOMM: Into the Bottle' brings viewers a rare and never before seen glimpse inside the private world of both famed and cult winemakers, such as Jean Louis Chave, Aubert de Villaine (Domaine Romanee-Conti), and Robert Mondavi. Excluding unfavorable currency exchange, sales declined 14 % Oh, yeah, that 's where and! Still compensating pay friendly and competitively compared to your expectations: into the room with them a look at.! Speculating on each others sanity NEWS and REALIZING, WAIT a MINUTE THATS... 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