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THE BUCKLE, INC. REPORTS FIRST-QUARTER NET PROFITS UP SLIGHTLY ON A 16.7-PERCENT SALES INCREASE

 KEARNEY, Neb., May 13 /PRNewswire/ -- The Buckle, Inc. (NASDAQ-NMS: BKLE) today reported net income up slightly on a 16.7-percent sales increase for the first fiscal quarter ended May 1, 1993.
 Net income, for the first fiscal quarter, rose to $639,000, or 9 cents per share, on 7,192,000 average weighted shares outstanding from $630,000, or 12 cents per share, on a pro forma basis, on 5,141,000 average weighted shares outstanding a year earlier.
 Net sales for the first quarter (13 weeks) ended May 1, 1993, increased 16.7 percent to $23.1 million from $19.8 million for the first quarter of the 1992 fiscal year. Comparable store sales decreased 2.6 percent. At the end of the first quarter of fiscal 1993 the company operated 115 stores vs. 89 stores in the 1992 period.
 During the first quarter of the 1993 fiscal year the company incurred pre-opening and opening costs for 11 new stores vs. three new stores in the first quarter a year ago. The Buckle, Inc. expenses all pre-opening and opening costs in connection with new stores rather than capitalizing such costs.
 Headquartered in Kearney, The Buckle, Inc. is a retailer of casual apparel for young men and women, currently operating 117 stores in 18 states. The company's common shares are traded on the NASDAQ National Market System under the symbol BKLE.
 THE BUCKLE, INC.
 STATEMENTS OF INCOME
 (In thousands, except per-share data)
 (Unaudited)
 13 Weeks Ended
 5-1-93 5-2-92
 Net sales $23,071 $19,769
 Cost of sales 16,180 13,550
 Gross profit 6,891 6,219
 Selling expenses 5,100 4,263
 General and administrative expenses 917 868
 Income from operations 874 1,088
 Other income (expense) 162 58
 Income before income taxes 1,036 1,030
 Pro forma income taxes(a) 397 400
 Pro forma net income(a) $639 $630
 Pro forma net income per share(a) $0.09 $0.12
 Average number of shares outstanding 7,192 5,141
 (a) -- From Feb. 1, 1988, to May 2, 1992, the company elected to be taxed as an S Corporation, therefore the pro forma income taxes are based on estimated corporate income tax rates that would have been applied if it had been operating as a C Corporation.
 -0- 5/13/93
 /CONTACT: Daniel J. Hirschfeld, chairman and CEO, or Karen B. Rhoads, chief financial officer, The Buckle, Inc., 308-236-8491/
 (BKLE)


CO: The Buckle, Inc. ST: Nebraska IN: REA SU: ERN

ML-SM -- DE007 -- 7961 05/13/93 09:28 EDT
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Publication:PR Newswire
Date:May 13, 1993
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