10-14-2003, 03:02 PM
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Confirmed User
Join Date: May 2002
Location: Pacific Palisades
Posts: 6,940
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Quote:
Originally posted by hottoddy
I'm a former TJs employee with many remaining contacts. There are many rumors about Charles Shaw wine (divorce settlement, bankrupties, etc), but none are true. The real story is that there's a huge glut in CA wine production. The producer simply reached an agreement to sell vast amounts of product at an incredible price. It is a buyers market, and especially good for someone like TJ's that buys with cash in advance. It's not a once time buyout, but a continuing relationship with a producer with huge acreage (at least for the near future). At $1.99, TJs is making about .50 cents a bottle in profit. They have gained even more in publicity and new customers. There was a recent vintage turnover, and the new year isn't quite as good as the original two buck chuck. Still, it's easily a $10-15 bottle of wine.
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I wonder if J $tyles had anything to do with this WINE BLOWOUT!
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