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:   March 8, 2012 web:  www.buckle.com

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

THE BUCKLE, INC. REPORTS FOURTH QUARTER

AND FISCAL YEAR 2011 NET INCOME

KEARNEY, NE -- The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended January 28, 2012 was $56.1 million, or $1.19 per share ($1.18 per share on a diluted basis).  Net income for the fiscal year ended January 28, 2012 was $151.5 million, or $3.23 per share ($3.20 per share on a diluted basis).

Net sales for the 13-week fiscal quarter ended January 28, 2012 increased 11.2 percent to $337.1 million from net sales of $303.1 million for the prior year 13-week fiscal quarter ended January 29, 2011. Comparable store net sales for the 13-week period ended January 28, 2012 increased 8.0 percent from comparable store net sales for the prior year 13-week period ended January 29, 2011.  Online sales (which are not included in comparable store sales) increased 30.9 percent to $27.6 million for the 13-week period ended January 28, 2012, compared to the 13-week period ended January 29, 2011.

Net sales for the 52-week fiscal year ended January 28, 2012 increased 11.9 percent to $1.063 billion from net sales of $949.8 million for the 52-week fiscal year ended January 29, 2011.  Comparable store net sales for the 52-week period ended January 28, 2012 increased 8.4 percent from comparable store net sales for the prior year 52-week period ended January 29, 2011.  Online sales (which are not included in comparable store sales) increased 25.0 percent to $78.0 million for the 52-week period ended January 28, 2012, compared to the 52-week period ended January 29, 2011.

Net income for the fourth quarter of fiscal 2011 was $56.1 million, or $1.19 per share ($1.18 per share on a diluted basis), compared with $49.5 million, or $1.06 per share ($1.05 per share on a diluted basis) for the fourth quarter of fiscal 2010.

Net income for the fiscal year ended January 28, 2012 was $151.5 million, or $3.23 per share ($3.20 per share on a diluted basis), compared with $134.7 million, or $2.92 per share ($2.86 per share on a diluted basis) for the fiscal year ended January 29, 2011.

Management will hold a conference call at 9:00 a.m. EST today to discuss fourth quarter results.  To participate in the call, please call (800) 230-1059 and reference the conference code 239635.  A replay of the call will be available for a two-week period beginning March 8, 2012 at 11:00 a.m. EST by calling (800) 475-6701 and entering the conference code 239635.

About Buckle

Offering a unique mix of high-quality, on-trend apparel, accessories, and footwear, Buckle caters to fashion-conscious young men and women.  Known as a denim destination, each store carries a wide selection of fits, styles, and finishes from leading denim brands, including the Company’s exclusive brand, BKE.  Headquartered in Kearney, Nebraska, Buckle currently operates 431 retail stores in 43 states.  As of the end of the fiscal year, it operated 431 stores in 43 states compared with 420 stores in 41 states at the end of fiscal 2010.

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				Fifty-two Weeks Ended
	January 28,		January 29,		January 28,		January 29,
	2012		2011		2012		2011
SALES, Net of returns and allowances	$	337,076	$	303,056	$	1,062,946	$	949,838
COST OF SALES (Including buying,
distribution, and occupancy costs)		177,175		158,708		594,291		530,709
Gross profit		159,901		144,348		468,655		419,129
OPERATING EXPENSES:
Selling		59,991		57,060		195,294		177,610
General and administrative		12,094		9,583		37,041		30,752
		72,085		66,643		232,335		208,362
INCOME FROM OPERATIONS		87,816		77,705		236,320		210,767
OTHER INCOME, Net		1,730		1,042		4,161		3,911
INCOME BEFORE INCOME TAXES		89,546		78,747		240,481		214,678
PROVISION FOR INCOME TAXES		33,466		29,293		89,025		79,996
NET INCOME	$	56,080	$	49,454	$	151,456	$	134,682
EARNINGS PER SHARE:
Basic	$	1.19	$	1.06	$	3.23	$	2.92
Diluted	$	1.18	$	1.05	$	3.20	$	2.86
Basic weighted average shares		47,035		46,446		46,859		46,183
Diluted weighted average shares		47,518		47,133		47,359		47,025

THE BUCKLE, INC.
BALANCE SHEETS
(Amounts in Thousands Except Share and Per Share Amounts)
(Unaudited)
	January 28,			January 29,
ASSETS	2012			2011 (1)
CURRENT ASSETS:
Cash and cash equivalents	$	166,511		$	116,470
Short-term investments		29,998			22,892
Receivables		4,584			14,363
Inventory		104,209			88,593
Prepaid expenses and other assets		14,825			14,718
Total current assets		320,127			257,036
PROPERTY AND EQUIPMENT:		358,866			342,413
Less accumulated depreciation and amortization		(189,832	)		(173,179	)
		169,034			169,234
LONG-TERM INVESTMENTS		39,985			66,162
OTHER ASSETS		2,393			2,412
	$	531,539		$	494,844
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	27,416		$	33,489
Accrued employee compensation		42,854			36,018
Accrued store operating expenses		11,125			9,653
Gift certificates redeemable		20,286			17,213
Income taxes payable		8,150			-
Total current liabilities		109,831			96,373
DEFERRED COMPENSATION		8,581			7,727
DEFERRED RENT LIABILITY		36,503			37,430
OTHER LIABILITIES		13,477			7,649
Total liabilities		168,392			149,179
COMMITMENTS
STOCKHOLDERS’ EQUITY:
Common stock, authorized 100,000,000 shares of $.01 par value;
47,432,089 and 47,127,926 shares issued and outstanding
at January 28, 2012 and January 29, 2011, respectively		474			471
Additional paid-in capital		100,333			89,719
Retained earnings		263,039			256,146
Accumulated other comprehensive loss		(699	)		(671	)
Total stockholders’ equity		363,147			345,665
	$	531,539		$	494,844
(1) Derived from audited financial statements.