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

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$).$

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.

the money available to add to the seller's retained earnings account.

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.

free cash flow, to be used as the selling company sees fit.

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