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The Buckle, Inc. Reports 53.5% Increase in Net Income for First Quarter

KEARNEY, NE -- (MARKET WIRE) -- 05/22/08 -- The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended May 3, 2008 increased 53.5 percent on a 32.4 percent net sales increase.

Comparable store net sales for the 13-week first quarter ended May 3, 2008 increased 25.6 percent from comparable store net sales for the 13-week first quarter ended May 5, 2007. Net sales for the 13-week first quarter ended May 3, 2008 increased 32.4 percent to $160.3 million compared to net sales of $121.1 million for the prior year 13-week first quarter ended May 5, 2007.

Net income for the first quarter of fiscal 2008 was $18.7 million, or $0.63 per share ($0.61 per share on a diluted basis), compared with $12.2 million, or $0.41 per share ($0.40 per share on a diluted basis), for the first quarter of fiscal 2007.

Management will hold a conference call at 11:00 a.m. EDT today to discuss first quarter results. To participate in the call, please call (800) 398-9367 and reference the conference code 922153. A replay of the call will be available for a two-week period beginning May 22, 2008 at 1:00 p.m. EDT by calling (800) 475-6701 and entering the conference code 922153.

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 375 retail stores in 39 states, which includes the opening of one new store today in Sanford, Florida. As of the end of the fiscal quarter, it operated 374 stores in 39 states compared with 353 stores in 38 states at the end of the first quarter of fiscal 2007.

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.

THE BUCKLE, INC.

STATEMENTS OF INCOME
(Amounts in Thousands Except Per Share Amounts)
(Unaudited)


                                                      Thirteen Weeks Ended
                                                      ---------------------
                                                        May 3,     May 5,
                                                         2008       2007

SALES, Net of returns and allowances                  $  160,300 $  121,111

COST OF SALES (Including buying, distribution and
 occupancy costs)                                         94,678     75,608
                                                      ---------- ----------

      Gross profit                                        65,622     45,503
                                                      ---------- ----------

OPERATING EXPENSES:
   Selling                                                31,559     23,424
   General and administrative                              6,695      4,980
                                                      ---------- ----------
                                                          38,254     28,404
                                                      ---------- ----------

INCOME FROM OPERATIONS                                    27,368     17,099

OTHER INCOME, Net                                          2,320      2,123
                                                      ---------- ----------

INCOME BEFORE INCOME TAXES                                29,688     19,222

PROVISION FOR INCOME TAXES                                10,971      7,029
                                                      ---------- ----------

NET INCOME                                            $   18,717 $   12,193
                                                      ========== ==========


EARNINGS PER SHARE:
   Basic                                              $     0.63 $     0.41
                                                      ========== ==========

   Diluted                                            $     0.61 $     0.40
                                                      ========== ==========

Basic weighted average shares                             29,871     29,468
Diluted weighted average shares                           30,833     30,687





THE BUCKLE, INC.

BALANCE SHEETS
(Amounts in Thousands Except Share and Per Share Amounts)
(Unaudited)


                                        May 3,     February 2,    May 5,
ASSETS                                   2008       2008 (1)       2007

CURRENT ASSETS:
   Cash and cash equivalents         $   141,174  $    64,293  $    33,502
   Short-term investments                 38,954      102,910      128,483
   Accounts receivable, net of
    allowance of $40, $62 and $37,
    respectively                           3,991        2,800        3,421
   Inventory                              73,976       77,639       70,261
   Prepaid expenses and other assets      14,937       13,979       13,525
                                     -----------  -----------  -----------
      Total current assets               273,032      261,621      249,192
                                     -----------  -----------  -----------

PROPERTY AND EQUIPMENT:                  246,263      240,237      222,196
   Less accumulated depreciation and
    amortization                        (141,929)    (137,903)    (126,401)
                                     -----------  -----------  -----------
                                         104,334      102,334       95,795
                                     -----------  -----------  -----------

LONG-TERM INVESTMENTS                     78,861       81,201       30,675
OTHER ASSETS                               5,905        5,501        4,044
                                     -----------  -----------  -----------

                                     $   462,132  $   450,657  $   379,706
                                     ===========  ===========  ===========

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
   Accounts payable                  $    27,299  $    25,155  $    19,528
   Accrued employee compensation          13,415       27,836        8,867
   Accrued store operating expenses        6,019        5,704        4,666
   Gift certificates redeemable            6,430        8,511        4,899
   Income taxes payable                    5,286       10,020        4,112
                                     -----------  -----------  -----------
      Total current liabilities           58,449       77,226       42,072

DEFERRED COMPENSATION                      4,996        4,127        3,805
DEFERRED RENT LIABILITY                   32,750       30,984       29,043
                                     -----------  -----------  -----------
      Total liabilities                   96,195      112,337       74,920
                                     -----------  -----------  -----------

COMMITMENTS

STOCKHOLDERS' EQUITY:
   Common stock, authorized
    100,000,000 shares of $.01 par
    value; issued and outstanding;
    30,622,601 shares at May 3, 2008,
    29,841,668 shares at February 2,
    2008 and 30,047,212 shares at
    May 5, 2007                              306          298          300
   Additional paid-in capital             64,168       46,977       55,468
   Retained earnings                     302,151      291,045      249,018
   Accumulated other comprehensive
    loss                                    (688)           -            -
                                     -----------  -----------  -----------
      Total stockholders' equity         365,937      338,320      304,786
                                     -----------  -----------  -----------

                                     $   462,132  $   450,657  $   379,706
                                     ===========  ===========  ===========

(1) Derived from audited financial statements.

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

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
web: www.buckle.com

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