The Buckle Sees Q2 Profits Jump 49% on 5.8% Comp Sales Gain

The Buckle, Inc. reported net income for the second quarter of fiscal 2004 increased 48.9% to $5.3 million, or 24 cents per diluted share, compared with $3.6 million, or 17 cents per diluted share, for the second quarter of 2003.

Net sales for the period increased 13.0% to $96.8 million from $85.7 million for the second quarter of fiscal 2003. Comparable store net sales, for stores open at least one year, were up 6.8% for the 13 weeks ended July 31, 2004, compared with the 13 weeks ended August 2, 2003.

Net sales for the first six months of fiscal 2004 increased 14.5 percent to $191.6 million from $167.4 million in the first six months of fiscal 2003. Comparable store net sales increased 9.3 percent for the six months ended July 31, 2004 compared with the six months ended August 2, 2003.

Net income for the first six months ended July 31, 2004 was $11.3 million or 53 cents per share (51 cents per share on a diluted basis), compared with $6.6 million or 31 cents per share (31 cents per share on a diluted basis) for the six months ended August 2, 2003.

Beginning with the four-week period ended May 1, 2004, the Company changed its method of reporting comparable store sales to exclude Internet sales. Comparable store sales reported above for the thirteen and twenty-six week periods ended July 31, 2004 reflect the impact of this change.

During the second quarter of fiscal 2004, the Company purchased 45,700 shares of the Company's common stock at an average price of $26.10 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 103,675 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
                July 31, 2004   August 2, 2003  July 31, 2004  August 2,2003

  Net Sales              $96,848      $85,683     $191,622     $167,396

  Cost of Sales           67,003       61,085      131,065      119,929

  Gross Profit            29,845       24,598       60,557       47,467

  Selling Expenses        18,399       16,428       36,733       32,959
  General and
   Administrative Exp.     3,853        3,423        7,750        6,176

  Income from Operations   7,593        4,747       16,074        8,332

  Other Income               825          932        1,743        2,072

  Income before
   Income Taxes            8,418        5,679       17,817       10,404

  Income Tax Expense       3,069        2,087        6,547        3,822

  Net Income              $5,349       $3,592      $11,270       $6,582

  Basic Income per Share  $ 0.25       $ 0.17      $  0.53       $ 0.31

  Diluted Income
   per Share              $ 0.24       $ 0.17      $  0.51       $ 0.31