Together with TIS, Fiserv is pursuing many other mobile imaging applications, including debit and credit card capture for mobile payments, check capture for mobile deposits and account opening, driver's license capture for mobile enrollments, among other innovative uses of mobile capture capabilities
It might not be on the books but the brand name is worth a lot because it generates millions in royalty revenue. You can't just count brick and mortar value when the biz is a franchise model.
Travel and convention cost is not a scam. I checked into it and the spending is in line with the number of trade shows they do. The CEO is very frugal person. Over many years the operating expenses of the biz have not moved up an inch despite growing revenues.
They don't know that number because the distribution centers that report to them sell to local distribution centers that then move the product to the individual stores. Those local centers don't have to report to NROM. Therefore, they don't know the exact number. I say, follow the money. If revenue growth in the grocery segment is satisfactory then the number of stores doesn't matter. Cash flow is what counts in the end.