The Buckle, Inc. reported net income down 11.7 percent on a 2.6 percent sales increase for the second quarter ended August 2, 2003.

Net income for the second quarter of fiscal 2003 was $3.6 million, or 17 cents per share (17 cents per share on a diluted basis), compared with $4.1 million, or 19 cents per share (19 cents per share on a diluted basis) for the second quarter of 2002.

Net sales for the second quarter ended August 2, 2003, increased 2.6 percent to $85.7 million from $83.5 million for the second quarter of fiscal 2002. Comparable store net sales, for stores open at least one year, were down 1.3 percent for the 13 weeks ended August 2, 2003, compared with the 13 weeks ended August 3, 2002.

Net sales for the first six months of fiscal 2003 increased 2.5 percent to $167.4 million from $163.4 million in the first six months of fiscal 2002. Comparable store net sales decreased 1.1 percent for the six months ended August 2, 2003 compared with the six months ended August 3, 2002.

Net income for the first six months ended August 2, 2003 was $6.6 million or 31 cents per share (31 cents per share on a diluted basis), compared with $8.4 million or 40 cents per share (38 cents per share on a diluted basis) for the six months ended August 3, 2002.

During the second quarter of fiscal 2003, the Company purchased 55,000 shares of the Company's common stock at an average price of $17.03 per share. These shares were purchased pursuant to the corporate stock repurchase program authorized by the Board of Directors on December 27, 2000. The Company has 219,375 shares remaining to be purchased to complete this authorization.

THE BUCKLE, INC. – STATEMENTS OF INCOME (in thousands, except per share data – unaudited)

                                Thirteen weeks ended  Twenty-six weeks ended
                                August 2,  August 3,   August 2,   August 3,
                                  2003       2002        2003         2002

     Net Sales                  $85,683     $83,516    $167,396    $163,371

     Cost of Sales               61,085      59,706     119,929     116,445

     Gross Profit                24,598      23,810      47,467      46,926

     Selling Expenses            16,428      15,912      32,959      30,948
     General and
      Administrative Exp.         3,423       2,527       6,176       5,072

     Income from Operations       4,747       5,371       8,332      10,906

     Other Income                   932       1,108       2,072       2,417

     Income before Income Taxes   5,679       6,479      10,404      13,323

     Income Tax Expense           2,087       2,410       3,822       4,956

     Net Income                  $3,592      $4,069      $6,582      $8,367

     Basic Income per Share       $0.17       $0.19       $0.31       $0.40

     Diluted Income per Share     $0.17       $0.19       $0.31       $0.38