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 o the net profit earned on each pair of private-label footwear sold in a given region. O how much sellers of private-label footwear received per pair sold over and above materials costs and direct labor costs. how much sellers of private-label footwear received from each private-label pair sold that is available for repaying bank loans. how much sellers of private-label footwear received from each pair sold that can be immediately used for purchasing shares of outstanding common stock. 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