The Buckle, Inc. (BKE) 8-K Results of Operations and Financial Condition

Exhibit 99.1

	The Buckle, Inc.
	2407 W. 24th St. Kearney, NE 68845
	P.O. Box 1480 Kearney, NE 68848-1480
	phone: 308-236-8491
	fax: 308-236-4493
For Immediate Release: August 17, 2006	web: www.buckle.com

Contact: Karen B. Rhoads, Chief Financial Officer The Buckle, Inc. 308/236-8491

THE BUCKLE, INC. REPORTS SECOND QUARTER NET PROFITS

KEARNEY, NE -- The Buckle, Inc. (NYSE: BKE) reported net income down 12.1 percent on a 1.7 percent net sales decrease for the second quarter ended July 29, 2006.

Net income for the second quarter of fiscal 2006 decreased 12.1 percent to $6.6 million, or 34 cents per share (33 cents per share on a diluted basis), compared to net income of $7.6 million, or 39 cents per share (38 cents per share on a diluted basis) for the second quarter of fiscal 2005.

Net sales for the second quarter ended July 29, 2006, decreased 1.7 percent to $102.4 million compared to net sales of $104.1 million for the second quarter of fiscal 2005. Comparable store net sales, for stores open at least one year, declined 5.7 percent for the quarter ended July 29, 2006, compared with the quarter ended July 30, 2005.

Net income for the six months ended July 29, 2006 declined 1.1 percent to $16.0 million or 83 cents per share (80 cents per share on a diluted basis), compared with $16.2 million or 81 cents per share (78 cents per share on a diluted basis) for the six months ended July 30, 2005.

Net sales for the first six months of fiscal 2006 increased 1.1 percent to $212.0 million compared to net sales of $209.7 million in the first six months of fiscal 2005. Comparable store net sales declined 3.4 percent for the six months ended July 29, 2006 compared with the six months ended July 30, 2005.

The adoption of “SFAS No. 123(R): Share-Based Payments” had a $0.01 and $0.02 per share impact on both the Company’s reported after-tax basic and diluted earnings per share for the second quarter and for the first half of fiscal 2006, respectively. No compensation expense related to stock option grants was recognized by the Company for fiscal periods prior to fiscal 2006.

Additionally, other income for the second quarter of fiscal 2006 included proceeds received from the settlement of Hurricane Katrina insurance claims and settlement of a lawsuit related to Visa/Mastercard interchange fees. These proceeds had a $0.02 per share impact on both the Company’s reported after-tax basic and diluted earnings per share.

During the quarter ended July 29, 2006, the Company repurchased 84,900 shares of its common stock at an average price of $40.62 per share. These shares were purchased pursuant to the 1,000,000 share corporate stock repurchase program authorized by the Board of Directors. The Company had 596,100 shares remaining as of July 29, 2006 to be purchased to complete this authorization.

Headquartered in Kearney, Nebraska, The Buckle, Inc. is a retailer of casual apparel, footwear and accessories for young men and women. It currently operates 346 retail stores in 38 states compared with 333 stores in 38 states at this same time a year ago.

To listen to the Company’s recorded quarterly earnings commentary, please call (308) 238-2500.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995; All forward looking statements made by the Company involve material risks and uncertainties and are subject to change based on factors which may be beyond the Company's control. Accordingly, the Company's future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Such factors include, but are not limited to, those described in the Company's filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise any forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.

Note: News releases and other information on The Buckle, Inc. can be accessed at www.buckle.com on the Internet.

Financial Table to Follow

THE BUCKLE, INC.
STATEMENTS OF INCOME
(Amounts in Thousands Except Per Share Amounts)
(Unaudited)
	Thirteen Weeks Ended				Twenty-six Weeks Ended
	July 29,		July 30,		July 29,		July 30,
	2006		2005		2006		2005
NET SALES	$	102,398	$	104,130	$	212,004	$	209,677
COST OF SALES (Including buying,
distribution and occupancy costs)		68,330		67,883		138,909		136,181
Gross profit		34,068		36,247		73,095		73,496
OPERATING EXPENSES:
Selling		22,102		21,721		44,007		42,614
General and administrative		3,677		3,850		7,541		7,978
		25,779		25,571		51,548		50,592
INCOME FROM OPERATIONS		8,289		10,676		21,547		22,904
OTHER INCOME, Net		2,282		1,256		3,866		2,737
INCOME BEFORE INCOME TAXES		10,571		11,932		25,413		25,641
PROVISION FOR INCOME TAXES		3,932		4,379		9,420		9,467
NET INCOME	$	6,639	$	7,553	$	15,993	$	16,174
EARNINGS PER SHARE:
Basic	$	0.34	$	0.39	$	0.83	$	0.81
Diluted	$	0.33	$	0.38	$	0.80	$	0.78
Basic weighted average shares		19,367		19,145		19,337		19,905
Diluted weighted average shares		20,074		20,100		20,041		20,804

THE BUCKLE, INC.
BALANCE SHEETS
(Amounts in Thousands Except Share and Per Share Amounts)
(Unaudited)
	July 29,			January 28,
ASSETS	2006			2006 (1)
CURRENT ASSETS:
Cash and cash equivalents	$	8,482		$	23,438
Short-term investments		135,553			134,672
Accounts receivable, net of allowance of $55 and $94, respectively		4,067			4,824
Inventory		90,893			68,731
Prepaid expenses and other assets		8,044			6,894
Total current assets		247,039			238,559
PROPERTY AND EQUIPMENT:		208,426			199,618
Less accumulated depreciation and amortization		(115,345	)		(108,222	)
		93,081			91,396
LONG-TERM INVESTMENTS		40,834			41,654
OTHER ASSETS		2,625			2,657
	$	383,579		$	374,266
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	26,724		$	11,119
Accrued employee compensation		8,398			20,096
Accrued store operating expenses		4,187			3,725
Gift certificates redeemable		3,573			5,495
Income taxes payable		0			4,696
Total current liabilities		42,882			45,131
DEFERRED COMPENSATION		2,985			2,518
DEFERRED RENT LIABILITY		27,944			26,824
Total liabilities		73,811			74,473
COMMITMENTS
STOCKHOLDERS’ EQUITY:
Common stock, authorized 100,000,000 shares of $.01 par value; issued and
outstanding; 19,544,399 and 19,339,153 shares, respectively		195			193
Additional paid-in capital		38,279			39,651
Retained earnings		271,294			261,948
Unearned compensation - restricted stock		0			(1,999	)
Total stockholders’ equity		309,768			299,793
	$	383,579		$	374,266
(1) As restated