The Buckle, Inc. (BKE) 8-K The Buckle, Inc. Reports First Quarter Net Income

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: May 24, 2007	web: www.buckle.com

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

THE BUCKLE, INC. REPORTS FIRST QUARTER NET INCOME

KEARNEY, NE — The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended May 5, 2007 increased 30.3 percent on a 10.5 percent net sales increase.

Net sales for the 13-week first quarter ended May 5, 2007 increased 10.5 percent to $121.1 million compared to net sales of $109.6 million for the prior year 13-week first quarter ended April 29, 2006. Comparable store net sales for the first quarter increased 6.4 percent from comparable store net sales for the 13-week period ended May 6, 2006.

Due to the 53^rd week in fiscal 2006, comparable store net sales for the quarter are compared to the prior year 13-week period ended May 6, 2006.

Net income for the first quarter of fiscal 2007 was $12.2 million, or $0.41 per share ($0.40 per share on a diluted basis), compared with $9.4 million, or $0.32 per share ($0.31 per share on a diluted basis), for the first quarter of fiscal 2006.

Earnings per share and the weighted average shares outstanding for the prior year first quarter have been adjusted to reflect the impact of the Company’s 3-for-2 stock split paid in the form of a stock dividend on January 12, 2007. The prior year first quarter stockholders’ equity data was not split adjusted.

Management will hold a conference call at 11:30 a.m. EDT today to discuss first quarter results. To participate in the call, please call (800) 553-5275 and reference the conference code 873545. A replay of the call will be available for a two-week period beginning May 24, 2007 at 3:00 p.m. EDT by calling (800) 475-6701 and entering the conference code 873545.

Headquartered in Kearney, Nebraska, The Buckle, Inc. is a retailer of casual apparel, footwear and accessories for young men and women. As of the end of the fiscal quarter, it operated 353 stores in 38 states compared with 341 in 38 states at the end of the first quarter of fiscal 2006. With the opening of two new stores in Medford, Oregon and Strongsville, Ohio subsequent to quarter end, The Buckle, Inc. currently operates 355 retail stores in 38 states.

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 Tables to Follow

THE BUCKLE, INC.

STATEMENTS OF INCOME

(Amounts in Thousands Except Per Share Amounts)

(Unaudited)

	Thirteen Weeks Ended
	May 5,		April 29,
	2007		2006
SALES, Net of returns and allowances	$	121,111	$	109,606
COST OF SALES (Including buying, distribution
and occupancy costs)		75,608		70,579
					��
Gross profit		45,503		39,027
OPERATING EXPENSES:
Selling		23,424		21,905
General and administrative		4,980		3,864
		28,404		25,769
INCOME FROM OPERATIONS		17,099		13,258
OTHER INCOME, Net		2,123		1,584
INCOME BEFORE INCOME TAXES		19,222		14,842
PROVISION FOR INCOME TAXES		7,029		5,488
NET INCOME	$	12,193	$	9,354
EARNINGS PER SHARE:
Basic	$	0.41	$	0.32
Diluted	$	0.40	$	0.31
Basic weighted average shares		29,468		28,961
Diluted weighted average shares		30,687		30,014

THE BUCKLE, INC.

BALANCE SHEETS

(Amounts in Thousands Except Share and Per Share Amounts)

(Unaudited)

	May 5,			February 3,			April 29,
	2007			2007 (1)			2006
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	33,502		$	35,752		$	19,389
Short-term investments		128,483			115,721			138,172
Accounts receivable, net of allowance of $37, $72 and $62, respectively		3,421			4,046			3,354
Inventory		70,261			70,306			67,395
Prepaid expenses and other assets		13,525			12,401			7,298
Total current assets		249,192			238,226			235,608
PROPERTY AND EQUIPMENT:		222,196			215,630			203,656
Less accumulated depreciation and amortization		(126,401	)		(121,811	)		(111,326	)
		95,795			93,819			92,330
LONG-TERM INVESTMENTS		30,675			31,958			43,585
OTHER ASSETS		4,044			4,195			2,629
	$	379,706		$	368,198		$	374,152
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	19,528		$	14,670		$	16,659
Accrued employee compensation		8,867			17,800			6,324
Accrued store operating expenses		4,666			4,468			3,805
Gift certificates redeemable		4,899			6,709			4,011
Income taxes payable		8,373			5,562			5,025
Total current liabilities		46,333			49,209			35,824
DEFERRED COMPENSATION		3,805			3,368			3,007
DEFERRED RENT LIABILITY		29,043			29,034			27,402
Total liabilities		79,181			81,611			66,233
COMMITMENTS
STOCKHOLDERS’ EQUITY:
Common stock, authorized 100,000,000 shares of $.01 par value;
issued and outstanding; 30,047,212 shares at May 5, 2007, 29,408,576 shares at February 3, 2007 and 19,552,543 shares at April 29, 2006		300			294			196
Additional paid-in capital		51,207			43,493			39,744
Retained earnings		249,018			242,800			267,979
Total stockholders’ equity		300,525			286,587			307,919
	$	379,706		$	368,198		$	374,152

(1) Derived from audited financial statements.