BSG SIMULATION

In the private-label operating benchmarks section on p. 7 of each issue of the FIR, the industry-low, industry-average, and industry-high benchmarks for the margins over direct costs (as explained in the Help section for this same page) should be interpreted as representing how much sellers of private-label footwear received over and above the costs per pair sold, these margins, if positive, serve to improve a seller's operating profit in the designated region 0000 0OROOOOOOOO OOO O free cash flow, to be used as the selling company sees fit. O the net profit earned (or lost -- in the case of a negative number) on each pair of private- label footwear supplied to a given region's chain retailers. O money available to add to the seller's retained earnings account. O cash that can be used to pay bank loans or increase dividend payments or be deposited in the company's retained earnings (to strengthen the company's balance sheet and credit rating) Copying, redistributing, or website posting is expressly prohibited and constitutes copyright violation Version 1649338 *** Copyright @ 2021 by Glo-Bus Software, Inc. R D 11 11 Z