The Buckle, Inc. reported that net sales for the first quarter ended April 30 increased 11.4% to $105.5 million. Comp store net sales were up 6.4% for the quarter, on top of an 11.6% increase in last year’s quarter.

Gross margin increased 290 basis points to 35.3% of sales from 32.4% in the year-ago period, but SG&A expenses also increased in the quarter to 23.7% of sales, up 20 basis points from Q1 2004. Resulting net income for the quarter jumped 46.4% to $8.6 million, or 40 cents per share on a diluted basis, compared with $5.9 million, or 27 cents per share on a diluted basis for the first quarter of 2004.

Quarter-end inventories inched up 0.4% to $73.0 million from $72.8 million last year. BKE’s quarter-end net store growth was flat at 330 doors.