somm: into the bottle transcript

This article is a transcript of this conference call produced for The Motley Fool. Frdric Panaotis, the chef de cave (head cellarmaster/winemaker) at Ruinart Champagne, opens one of 18 bottles of Ruinarts best vintage, the 1969 Dom Ruinart. I do apologize. We plan to file our 10-K before the deadline of March 16. Kelli White inspects a glass of Mondavis first vintage: 1966. OK. 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. So it's going really well. Got it. Nice to hear you. Good morning, and welcome to Tupperware Brands fourth-quarter 2022 earnings conference call. He shares with us a very rare bottle of 1969 Ermitage which was made by his grandfather. 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. Do you like food? Thanks for that. So we are still -- have plans to normalize the tax rate in the coming years. "They were bouncing up and down on the chairs. First of all, the Nazis bombed many of the vineyards and wineries. Mariela Matute -- Chief Financial Officer. We're in a good space. '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. Korea is among the most advanced markets in the process of building an omnichannel ecosystem. They recognized the family's address and their own handwriting. We remain committed to rightsizing the business in further manufacturing and supply chain optimization. Ian Cauble stays up the entire night studying flash cards as his stress level builds. Fifty years ago. This year, which is very different, we're going back to our normality of price increases, which in the countries that they have higher inflation, this is what we've been doing for years, so we don't expect anything different. While this should be somewhat offset by expansion elsewhere, those B2B channels are still relatively small as a percent of our overall business. A third film, SOMM 3, released in 2018. 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. As you have seen, the market trends, our interest rate is gonna increase as a result of our bank agreement as well as the macro trends. BLAIN, Pa. . When everyone finally arrives in Dallas for the test, Dustin Wilson decides to room with another candidate named Sabato Sagaria, leaving Brian McClintic to room with Ian. Yes. But it's gonna -- obviously, we expect high growth in that area. 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. We meet Jean-Louis Chave, the winery to know on Hermitage hill in the Northern Rhne (land of French Syrah). Available from various digital retailers including Amazon Video, iTunes, Google Play, Apple, Vudu and others. 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. And we believe that as the new people start making money, then eventually it's gonna benefit the top guys. Donna kept saying, 'That's us. Whats the difference between expensive wine and cheap wine? 50 YEARS AGO, I WAS 13. 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. But they are used to bring the focus to the real topic, the wines themselves, the history and what is going on in different parts of the world. Donna kept saying, 'That's us. "Oh, yeah, that's my handwriting," Donna Moore said. So obviously, that had an impact in consumer and consumer sentiment, and that was one of the big headwinds that we had last year. WHAT? We're learning from this success and are sharing best practices in many markets around the world, throughout this 2023. [18] The show, renamed Uncorked, debuted on November 10, 2015. Master Sommeliers Brian McClintic, Dustin Wilson and Ian Cauble return to Somm: Into the Bottle from the original to narrate the film, with McClintic handling a lot of the duties. Weve done our best to note most of the wines and people in this film. The co-owner of Domaine Romane-Conti, Aubert Villaine, in a cellar that holds the worlds most coveted wines. THE MOORES CALL IT A MIRACLE TO ONCE AGAIN CATCH YOUR CHERISHED MEMORIES OF DAYS GONE BY. In these locations, consumer into our location is run by a member of our sales force to purchase our products. Here are the chapters into which the film is divided. I assiduously noted the many winemakers interviewed because to a man or woman, each seemed charming and dedicated and intriguing. Its through these storiestold by charismatic wine communicatorsthat you begin to paint the picture of what wine really is. The film was distributed by Samuel Goldwyn Films. "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. Ultimately, wine is something of a time capsule, especially when you age it for a long time. The U.S. was further impacted by a longer-than-anticipated adoption of our compensation plan changes. (A similar bottle went for US$160,000 at auction. Thanks, Miguel. And good morning, everybody. But as in the past, we reacted quickly to external challenges. [4] In 2019, SOMM TV was launched by creator Jason Wise with original shows.[5]. 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. WOULD YOU LIKE TO SEE IT? SOMM: Into the Bottle brings viewers a rare and never before seen glimpse inside the private world of both famed and cult winemakers. Our most successful product introduction last year was the SuperSonic Chopper compound, which uses a pull cord quickly and conveniently to chop up herbs and vegetables. 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? We will simultaneously publish a management commentary on our website. Must Read However, we will issue our earnings release tonight before -- after the market close. With the elimination of the virtual kits, we expect the pendulum to gradually swing back to business builders. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. The Motley Fool has a disclosure policy. Have you seen any incremental improvement? 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. He is taken aback when he takes his first sip, he seems to understands more about his grandfather. The original Somm Four still make appearances. Jean-Louis Chave on Hermitage opening a bottle made by his grandfather in 1969. 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. Miguel Fernandez -- President and Chief Executive Officer. So sit back, open a bottle and enjoy as we take you into the bottle and back again. So have you done so well at Target that you're having trouble actually keeping the supply replenished? So Chasen, again, Miguel here. Oops. Here's how I described them back in 2013: Its a gas to see where they ended up after four years. [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. 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. Silvia Altare tells us about her dad Elio and how he went against his fathers wishes and used new French oak barrels on the 1985 vintage of their Barolo wines. I BET YOURE WATCHING TONIGHT. Got it. OH, YEAH, THAT. Our system has an innovative seal system that we have filed patents for. So I think it might have been in that sort of a little bit of a logistic issue within Target. Months earlier, Joe Frassetta spotted a glass bottle there with a decades-old message inside. And as we do that, it would take some time to match our tax structure to our countries where we are rapidly growing. "But the name wasn't right. For the full year 2022, dollar-reported sales declined 18% to $1.3 billion. Obviously, you've said that you expect to remain compliant. And there they were drinking a bottle of wine that was over 145 years old! So first, wanted to see if you guys can talk about China. I think it's for us is a learning and it's balancing. James Beard Award-winning author and Wine Communicator of the Year. And like can you just give some color on why that was so disruptive? What have you seen since they stopped the zero COVID policies? Something went wrong. "But the name wasn't right. Somm: Into the Bottle is much more explicitly about wine and its wonders. 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. Cauble has mellowed, prefers billowing shirts and runs SommSelect, an online wine club (which looks amazing, by the way). The film's director Jason Wise last directed Somm. 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. And clearly, with the amendment, you've got a little bit more breathing room over the coming years. 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. You will want a glass in your hand to watch this film.. Last spring, we hired a new CFO to help us better navigate our turnaround plans. This is one of the many memorable pieces of cinematography in SOMM: Into the Bottle, a new documentary by director Jason Wise.. His first documentary, SOMM, followed four candidates for the prestigious Master Sommelier test as they rode the emotional roller . In this year, we have a series of one-time items related to the valuation of our deferred tax assets. First, increase financial flexibility. SOMM: Into the Bottle brings viewers a rare and never before seen glimpse inside the private world of both famed and cult winemakers. [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. 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. This is arguably Australias most important wine and wine producer. Companywide, we closed 2022 with a max 18% lower active sales force than we did in 2021, which will continue to pressure the top line for our direct selling business. 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. Appreciate the color. 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. Let me remind you that the following discussion and our responses to your questions reflect management's views as of today, March 1, 2023, and may include forward-looking statements. I mean some of them obviously grow more than other ones. Show. And I get that competing is not exactly the word, but now that the two are effectively live and product is available at the same time. I will now turn the call over to Miguel Fernandez for closing remarks. Or kind of what's the situation there? So we are carrying good momentum into 2023. So we think retention and productivity will improve. And then the next time I went to see, it was all gone off the shelf, and then I didn't see it replenished very quickly. Unfortunately, just as Wise's interrogation of the sommeliers in the first film rang dead, so too do these. [Operator instructions] Your first question comes from the line of Anthony Lebiedzinski with Sidoti. THATS MY HANDWRITING. I'll pass it. At that time, it was a way to keep the recurring engine running during the time of limited in-person activities. Free shipping for many products! At Tupperware, we're looking to reduce single-use plastic anywhere we can. In our new amended credit agreement announced this week, our maximum leverage ratios increased. 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. This is Miguel. 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. Can you just kind of comment on kind of what you're seeing on that side of things? As an Amazon Associate, we earn from qualifying purchases. Watch on Netflix or buy on itunes for $9.99. By the end of the program, we expect to realize more than $60 million in annual cost savings. 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. Therefore, we will expect meaningfully higher interest expenses in 2023 than what we reported in 2022. We took a hit on sales, but now we have a solid foundation to build a profitable, sustainable business. 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. 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. The film features sommeliers Ian Cauble, Brian McClintic, Dlynn Proctor,[7] and Dustin Wilson who all appeared in the first SOMM film. A sommelier is a position in a restaurant. (Wise and his DP, however, liberally partook.). It was Bernard Moore," Christa Moore Wire said. Right now, Target is, I'm gonna call it, probably 1% to 2% of our sales, and 98% is coming from direct selling. This is a sommeliers wine. Review: The Pointless Battle of the Somm Did the 2013 documentary Somm really need a sequel? The Moores call it a miracle to once again capture cherished memories of days gone by. [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. Details are scarce. Excited to spend into new channels of distribution, I'm cautiously optimistic that the surge of inflation in 2021 was behind us. Length: 1hr 30min And how do you think about managing the trade-off between the two? 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. Madeline Puckette talks about Robert Parker. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. It might have been probably back luck. Thanks, Mariela. Please also note that all references, unless otherwise noted, are being made on a continuing operations basis. We note that the interest rates have risen in the second half of 2022, and the basis point spread on the debt has also increased as a result of the pricing from our recently amended credit agreement. Excluding unfavorable currency exchange, sales declined 14%. //

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