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 from each private$-$label pair sold that is available for repaying bank loans.

how much in dollars and cents was earned $($or lost$)$ on each pair of private$-$label footwear sold to chain retailers; progressively higher direct margins signal greater contributions to $($a$)$ helping pay any portion of branded expenses not covered by branded revenues in a given region and $(2)$ boosting the company's operating profits in the region.

how much sellers of private$-$label footwear received per pair sold over and above materials costs and direct labor costs.

the net profit earned on each pair of private$-$label footwear sold in a given region.

how much sellers of private$-$label footwear received from each pair sold that can be immediately used for purchasing shares of outstanding common stock.