Buckle Feb. and Q4 Comps Slip

The Buckle, Inc. saw February net sales increase 4.6% to $34.1 million from sales of $32.6 million for the same period last year. Comparable store net sales month decreased 0.4%.

Fourth Quarter and Fiscal 2005 Results

Net sales for the fourth quarter ended January 28, 2006, increased 5.3% to $153.4 million from $145.6 million for the fourth quarter of fiscal 2004. Comparable store net sales, for stores open at least one full year, decreased 0.1% for the fiscal quarter.

Net sales for the 52 weeks of fiscal 2005 increased 6.4% to $501.1 million from $470.9 million for the 52 weeks of fiscal 2004. Comparable store net sales increased 1.4% during fiscal 2005.

Net income for the fourth quarter of fiscal 2005 was $19.1 million, or 99 cents per share (96 cents per share on a diluted basis), compared with $17.1 million, or 79 cents per share (76 cents per share on a diluted basis) for the fourth quarter of fiscal 2004.

Net income for the fiscal year ended January 28, 2006 was $51.9 million or $2.64 per share ($2.54 per share on a diluted basis), compared with $43.2 million or $2.02 per share ($1.94 per share on a diluted basis) for the fiscal year ended January 29, 2005.

As of January 28, 2006, the company operated 338 retail stores in 38 states compared with 327 stores in 38 states as of January 29, 2005.

During fiscal 2005, the company purchased and retired 3,329,075 shares of its outstanding common stock at an average price of $28.51 per share. Three million of these shares were purchased through an agreement made with the company's founder and chairman, Daniel J. Hirschfeld. Of the remaining shares purchased, 18,675 shares completed the 500,000 share corporate stock repurchase program authorized by the Board of Directors on December 27, 2000, and 310,400 shares were purchased pursuant to the corporate stock repurchase program authorized by the Board of Directors on October 12, 2005. The Company has 189,600 shares remaining under its current repurchase authorization.

                                 THE BUCKLE, INC.
                             STATEMENTS OF INCOME
                 (Amounts in Thousands Except Per Share Amounts)
                                   (Unaudited)

                           Thirteen Weeks Ended       Fifty-two Weeks Ended
                         January 28,   January 29,   January 28,   January 29,
                            2006         2005           2006         2005

    NET SALES              $153,357    $145,593       $501,101     $470,937

    COST OF SALES
     (Including buying,
     distribution and
     occupancy costs)        89,064      87,261        307,063      299,958

        Gross profit         64,293      58,332        194,038      170,979

    OPERATING EXPENSES:
      Selling                30,474      27,490        100,148       89,008
      General and
       administrative         5,494       6,035         17,568       18,599
                             35,968      33,525        117,716      107,607

    INCOME FROM OPERATIONS   28,325      24,807         76,322       63,372

    OTHER INCOME, Net         2,270       1,817          6,123        4,470

    INCOME BEFORE
     INCOME TAXES            30,595      26,624         82,445       67,842

    PROVISION FOR
     INCOME TAXES            11,453       9,478         30,539       24,613

    NET INCOME              $19,142     $17,146        $51,906      $43,229


    EARNINGS PER SHARE:
      Basic                   $0.99       $0.79          $2.64        $2.02

      Diluted                 $0.96       $0.76          $2.54        $1.94

    BASIC WEIGHTED
     AVERAGE SHARES          19,355      21,611         19,656       21,436
    DILUTED WEIGHTED
     AVERAGE SHARES          19,998      22,497         20,447       22,257