<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 (FEE REQUIRED)
FOR THE FISCAL YEAR ENDED JANUARY 31, 1996
OR
[] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)
A. Full title of the Plan and the address of the Plan, if
different from that of the issuer named below:
THE BUCKLE, INC. CASH OR DEFERRED PROFIT SHARING PLAN
B. Name of issuer of the securities held pursuant to the Plan
and the address of its principal executive office
THE BUCKLE, INC.
2407 WEST 24TH STREET
P.O. BOX 1480
KEARNEY, NEBRASKA 68848-1480
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
members of The Buckle, Inc. Employee Benefits Committee have duly caused this
annual report to be signed on its behalf by the undersigned hereunto duly
authorized.
THE BUCKLE, INC. CASH OR DEFERRED PROFIT SHARING PLAN
Date___________________ By ____________________________________________
Daniel J. Hirschfeld
Chairman of the Board and Chief Executive Officer
<PAGE> 2
REQUIRED INFORMATION
Plan financial statements and schedules are prepared in accordance with the
financial reporting requirements of ERISA and are included herein as listed in
the table of contents below.
<TABLE>
<CAPTION>
Table of Contents
(a) Financial Statements Pages
---------------------------- -----
<S> <C>
Independent Auditors' Report 1
Statements of Net Assets Available for Benefits
January 31, 1996 and 1995 2-3
Statements of Changes in Net Assets Available for Benefits
for the Years Ended January 31, 1996 and 1995 4-5
Notes to Financial Statements 6-9
(b) Supplemental Schedules
------------------------------
Item 27a - Schedule of Assets Held for Investment Purposes - January 31, 1996 10
Item 27d - Schedule of Reportable Transactions - For the Year Ended
January 31, 1996 11
(c) Exhibits
----------------
Exhibit A - Independent Auditors' Consent 12
</TABLE>
Schedules not filed herewith are omitted because of the absence of the
conditions under which they are required.
<PAGE> 3
INDEPENDENT AUDITORS' REPORT
The Buckle, Inc. Cash or Deferred Profit Sharing Plan
Kearney, Nebraska
We have audited the accompanying statements of net assets available for
benefits of The Buckle, Inc. Cash or Deferred Profit Sharing Plan (the "Plan")
as of January 31, 1996 and 1995, and the related statements of changes in net
assets available for benefits for the years then ended. These financial
statements are the responsibility of the Plan's management. Our responsibility
is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis
for our opinion.
In our opinion, such financial statements present fairly, in all
material respects, the net assets available for benefits of the Plan as of
January 31, 1996 and 1995, and the changes in net assets available for benefits
for the years then ended in conformity with generally accepted accounting
principles.
Our audits were conducted for the purpose of forming an opinion on the
basic financial statements taken as a whole. The supplemental schedules of
Assets Held for Investment Purposes and Reportable Transactions are presented
for the purpose of additional analysis and are not a required part of the basic
financial statements but are supplementary information required by the
Department of Labor's Rules and Regulations for Reporting and Disclosures under
the Employee Retirement Income Security Act of 1974. The supplemental
information by fund in the statements of net assets available for benefits and
the statements of changes in net assets available for benefits is presented for
purposes of additional analysis rather than to present the net assets available
for benefits and changes in net assets available for benefits of the individual
funds. The supplemental schedules and supplemental information by fund is the
responsibility of the Plan's management. Such supplemental schedules and
supplemental information by fund have been subjected to the auditing procedures
applied in our audit of the basic financial statements and, in our opinion, are
fairly stated in all material respects when considered in relation to the basic
financial statements taken as a whole.
DELOITTE & TOUCHE LLP
Omaha, Nebraska
July 10, 1996
<PAGE> 4
THE BUCKLE, INC.
CASH OR DEFERRED PROFIT SHARING PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
JANUARY 31, 1996
<TABLE>
<CAPTION>
THE BUCKLE, INTER-
GUARANTEED INC. NATIONAL
INTEREST GROWTH STOCK EQUITY VALUE
ASSETS FUND FUND FUND FUND FUND
<S> <C> <C> <C> <C> <C>
INVESTMENTS, at fair value $1,804,839 $1,458,910 $639,105 $797,219 $1,262,473
EMPLOYER CONTRIBUTIONS
RECEIVABLE 54,996 108,556 62,215 85,306 80,083
PARTICIPANT CONTRIBUTIONS
RECEIVABLE 3,184 5,467 3,179 4,243 3,705
---------- ---------- -------- -------- ----------
NET ASSETS AVAILABLE FOR
BENEFITS $1,863,019 $1,572,933 $704,499 $886,768 $1,346,261
========== ========== ======== ======== ==========
AGGRESSIVE
ASSETS BALANCE GROWTH LOAN
FUND FUND FUND TOTAL
<S> <C> <C> <C> <C>
INVESTMENTS, at fair value $412,530 $947,074 $143,763 $7,465,913
EMPLOYER CONTRIBUTIONS
RECEIVABLE 32,632 101,794 - 525,582
PARTICIPANT CONTRIBUTIONS
RECEIVABLE 1,444 4,854 - 26,076
---------- ---------- ---------- ------------
NET ASSETS AVAILABLE FOR
BENEFITS $446,606 $1,053,722 $143,763 $8,017,571
========== =========== ========= ===========
See notes to financial statements.
</TABLE>
<PAGE> 5
<TABLE>
<CAPTION>
THE BUCKLE, INC.
CASH OR DEFERRED PROFIT SHARING PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
JANUARY 31, 1995
- ------------------------------------------------------------------------------------------------------------------------------------
THE BUCKLE,
GUARANTEED MONEY INC.
INTEREST MARKET EQUITY GROWTH STOCK
ASSETS FUND FUND FUND FUND FUND
<S> <C> <C> <C> <C> <C>
INVESTMENTS, at fair value $639,350 $522,713 $1,471,276 $1,174,390 $420,036
EMPLOYER CONTRIBUTIONS RECEIVABLE 135,678 43,154 118,258 105,752 56,181
PARTICIPANT CONTRIBUTIONS RECEIVABLE 1,319 5,146 4,724 4,278 2,151
ACCRUED INTEREST RECEIVABLE - - - - 5
-------------- ------------ -------------- -------------- -----------
NET ASSETS AVAILABLE FOR BENEFITS $776,347 $571,013 $1,594,258 $1,284,420 $478,373
============== ============ ============== ============== ===========
INTER-
FIXED NATIONAL
INCOME EQUITY
ASSETS FUND FUND TOTAL
<S> <C> <C> <C>
INVESTMENTS, at fair value $1,094,960 $24,800 $5,347,525
EMPLOYER CONTRIBUTIONS RECEIVABLE - 10,597 469,620
PARTICIPANT CONTRIBUTIONS RECEIVABLE - 488 18,106
ACCRUED INTEREST RECEIVABLE 64,771 - 64,776
----------- ----------- ----------
NET ASSETS AVAILABLE FOR BENEFITS $1,159,731 $35,885 $5,900,027
============= =========== ============
See notes to financial statements.
</TABLE>
<PAGE> 6
THE BUCKLE, INC.
CASH OR DEFERRED PROFIT SHARING PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
YEAR ENDED JANUARY 31, 1996
<TABLE>
<CAPTION>
THE
BUCKLE,
GUARANTEED MONEY INC. FIXED
INTEREST MARKET EQUITY GROWTH STOCK INCOME
FUND FUND FUND FUND FUND FUND
<S> <C> <C> <C> <C> <C> <C>
ADDITIONS TO NET
ASSETS ATTRIBUTED TO:
Investment income:
Net appreciation
in fair value of
investments $ - $ - $ - $331,373 $651,671 $ -
Interest and dividends 98,447 - - - - -
---------- --------- ----------- ---------- --------- -------------
98,447 - - 331,373 651,671 -
Contributions:
Employees 44,875 - - 92,031 56,165 -
Employer 54,996 - - 108,556 62,215 -
---------- --------- ----------- ---------- --------- -------------
99,871 - - 200,587 118,380 -
---------- --------- ----------- ---------- --------- -------------
Total Additions 198,318 - - 531,960 770,051 -
---------- --------- ----------- ---------- --------- -------------
DEDUCTIONS FROM
NET ASSETS
ATTRIBUTED TO:
Benefits paid to
participants (163,053) - - (55,445) (48,390) -
Administrative expense (3,878) - - (5,146) (503) -
---------- --------- ----------- ---------- --------- -------------
Total Deductions (166,931) - - (60,591) (48,893) -
---------- --------- ----------- ---------- --------- -------------
NET ROLLOVERS 414 - - 2,765 - -
NET INCREASE
PRIOR TO INTERFUND
TRANSFERS 31,801 - - 474,134 721,158 -
INTERFUND TRANSFERS 1,054,871 (571,013) (1,594,258) (185,621) (495,032) (1,159,731)
---------- --------- ----------- ---------- --------- -------------
NET INCREASE
(DECREASE) 1,086,672 (571,013) (1,594,258) 288,513 226,126 (1,159,731)
NET ASSETS AVAILABLE
FOR BENEFITS:
Beginning of Year 776,347 571,013 1,594,258 1,284,420 478,373 1,159,731
---------- --------- ----------- ---------- --------- -------------
End of Year $1,863,019 $ - $ - $1,572,933 $704,499 $ -
========== ========= =========== ========== ========= =============
<CAPTION>
INTERNATIONAL AGGRESSIVE
EQUITY VALUE BALANCE GROWTH LOAN
FUND FUND FUND FUND FUND TOTAL
<S> <C> <C> <C> <C> <C> <C>
ADDITIONS TO NET
ASSETS ATTRIBUTED TO:
Investment income:
Net appreciation
in fair value of
investments $35,855 $330,638 $43,400 $22,918 $ - $1,415,855
Interest and dividends - - - - 5,121 103,568
-------- ----------- --------- ---------- -------- ----------
35,855 330,638 43,400 22,918 5,121 1,519,423
Contributions:
Employees 72,999 70,592 29,757 89,316 - 455,735
Employer 85,306 80,083 32,632 101,794 - 525,582
-------- ----------- --------- ---------- -------- ----------
158,305 150,675 62,389 191,110 - 981,317
-------- ----------- --------- ---------- -------- ----------
Total Additions 194,160 481,313 105,789 214,028 5,121 2,500,740
-------- ----------- --------- ---------- -------- ----------
DEDUCTIONS FROM
NET ASSETS
ATTRIBUTED TO:
Benefits paid to
participants (18,662) (64,547) (6,317) (20,851) - (377,265)
Administrative expense (160) (6,297) - - - (15,984)
-------- ----------- --------- ---------- -------- ----------
Total Deductions (18,822) (70,844) (6,317) (20,851) - (393,249)
-------- ----------- --------- ---------- -------- ----------
NET ROLLOVERS 2,765 3,179 2,627 138 (1,835) 10,053
NET INCREASE
PRIOR TO INTERFUND
TRANSFERS 178,103 413,648 102,099 193,315 3,286 2,117,544
INTERFUND TRANSFERS 672,780 932,613 344,507 860,407 140,477 -
-------- ----------- --------- ---------- -------- ----------
NET INCREASE
(DECREASE) 850,883 1,346,261 446,606 1,053,722 143,763 2,117,544
NET ASSETS AVAILABLE
FOR BENEFITS:
Beginning of Year 35,885 - - - - 5,900,027
-------- ----------- --------- ---------- -------- ----------
End of Year $886,768 $1,346,261 $446,606 $1,053,722 $143,763 $8,017,571
======== =========== ========= ========== ======== ==========
</TABLE>
See notes to financial statements.
4
<PAGE> 7
THE BUCKLE, INC.
CASH OR DEFERRED PROFIT SHARING PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
YEAR ENDED JANUARY 31, 1995
<TABLE>
<CAPTION>
GUARANTEED MONEY
INTEREST MARKET EQUITY GROWTH
FUND FUND FUND FUND
<S> <C> <C> <C> <C>
ADDITIONS TO NET ASSETS ATTRIBUTED TO:
Investment income:
Net appreciation (depreciation) in fair value of investments $36,953 $28,736 $40,137 $(31,039)
Interest and dividends 918 49 127 112
----------- -------- --------- ---------
37,871 28,785 40,264 (30,927)
Contributions:
Employees 161,303 62,134 156,865 137,928
Employer 135,678 43,154 118,258 105,752
----------- -------- --------- ---------
296,981 105,288 275,123 243,680
----------- -------- --------- ---------
Total Additions 334,852 134,073 315,387 212,753
----------- -------- --------- ---------
DEDUCTIONS FROM NET ASSETS
ATTRIBUTED TO:
Benefits paid to participants (166,250) (16,664) (76,902) (76,086)
Administrative expense (8,100) (4,003) (22,010) (18,212)
----------- -------- --------- ---------
Total Deductions (174,350) (20,667) (98,912) (94,298)
----------- -------- --------- ---------
NET ROLLOVERS (27,737) (1,743) 11,006 18,449
NET INCREASE PRIOR TO INTERFUND TRANSFERS 132,765 111,663 227,481 136,904
INTERFUND TRANSFERS (1,178,404) 22,719 5,193 15,439
----------- -------- --------- ---------
NET INCREASE (DECREASE) (1,045,639) 134,382 232,674 152,343
NET ASSETS AVAILABLE FOR BENEFITS:
Beginning of Year 1,821,986 436,631 1,361,584 1,132,077
----------- -------- --------- ---------
End of Year $ 776,347 $571,013 $1,594,258 $1,284,420
=========== ======== ========= =========
<CAPTION>
THE
BUCKLE, INTER-
INC. FIXED NATIONAL
STOCK INCOME EQUITY
FUND FUND FUND TOTAL
<S> <C> <C> <C> <C>
ADDITIONS TO NET ASSETS ATTRIBUTED TO:
Investment income:
Net appreciation (depreciation) in fair value of investments $ (59,026) - $(2,063) $13,698
Interest and dividends 273 83,433 1 84,913
--------- ---------- -------- ---------
(58,753) 83,433 (2,062) 98,611
Contributions:
Employees 77,458 - 4,526 600,214
Employer 56,181 - 10,597 469,620
--------- ---------- -------- ---------
133,639 - 15,123 1,069,834
--------- ---------- -------- ---------
Total Additions 74,886 83,433 13,061 1,168,445
--------- ---------- -------- ---------
DEDUCTIONS FROM NET ASSETS
ATTRIBUTED TO:
Benefits paid to participants (24,925) - - (360,827)
Administrative expense (1,635) - (32) (53,992)
--------- ---------- -------- ---------
Total Deductions (26,560) - (32) (414,819)
--------- ---------- -------- ---------
NET ROLLOVERS 193 - - 168
NET INCREASE PRIOR TO INTERFUND TRANSFERS 48,519 83,433 13,029 753,794
INTERFUND TRANSFERS 35,899 1,076,298 22,856 -
--------- ---------- -------- ---------
NET INCREASE (DECREASE) 84,418 1,159,731 35,885 753,794
NET ASSETS AVAILABLE FOR BENEFITS:
Beginning of Year 393,955 - - 5,146,233
--------- ---------- -------- ---------
End of Year $478,373 $1,159,731 $35,885 $5,900,027
========= ========== ======== =========
</TABLE>
See notes to financial statements.
5
<PAGE> 8
THE BUCKLE, INC.
CASH OR DEFERRED PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
YEARS ENDED JANUARY 31, 1996 AND 1995
- --------------------------------------------------------------------------------
A. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF PRESENTATION - The accompanying financial statements have been
prepared on the accrual basis of accounting.
VALUATION OF INVESTMENTS - The Plan's guaranteed investment contracts are
recorded at the accumulated value of the contract, which approximates
fair value. The equity funds, including the Company stock fund, are
recorded at quoted market value of stocks comprising them. The fixed
income fund represented insurance annuities which were valued at premiums
paid plus earnings reinvested. Money market accounts are recorded at the
cash equivalent amount.
The net appreciation (depreciation) in the fair value of investments is
based on the fair value of the investments at the beginning of the year
or cost, if purchased during the year.
BENEFITS PAYABLE - Distributions to participants are recorded in the year
paid. At January 31, 1996 and 1995, benefits due and unpaid to retired
and terminated participants were $3,036 and $21,236, respectively.
B. DESCRIPTION OF THE PLAN
The following description of the Buckle, Inc. Cash or Deferred Profit
Sharing Plan (the Plan) provides only general information. Participants
should refer to the Plan agreement for a more complete description of the
Plan provisions.
GENERAL - The Plan is a defined contribution plan covering all employees
working 1,000 hours or more per year who have one year of service and are
at least age twenty. The Plan is subject to the provisions of the
Employee Retirement Income Security Act of 1974 (ERISA). It was
established February 1, 1986 and last amended February 1, 1993. The Plan
administrator is the Buckle, Inc. (the Company) while the trustee for the
Plan is Grand Island Trust Company, and the record keeper is United of
Omaha Life Insurance Company.
CONTRIBUTIONS - Participants may contribute from 2% to 12% of their
salary. The Company may contribute to the Plan at its discretion. The
Company contributions to the Plan were $525,582 and $469,620 during the
years ended January 31, 1996 and 1995, respectively.
PARTICIPANT ACCOUNTS - Each participant's account is credited with the
participant's contribution and an allocation of (a) the Company's
contribution, (b) Plan earnings, and (c) forfeiture of terminated
participants' nonvested accounts. Allocations are based on participant
earnings or account balances, as defined in the Plan. The benefit to
which a participant is entitled is the benefit that can be provided from
the participant's account.
6
<PAGE> 9
INVESTMENT OPTIONS - Participants may direct their contributions into any of
the following investment options:
Guaranteed Interest Fund - This fund provides a fixed rate of return.
Balance Fund - This fund invests both in equity and debt securities.
Growth Fund - This fund invests in equity securities of U.S. companies
with high growth potential.
International Equity Fund - This fund invests in equity securities of
growth oriented companies outside the U.S.
Value Fund - This fund invests in equity securities, generally in large,
well established companies.
Aggressive Growth Fund - This fund invests in equity securities of small
and medium sized U.S. companies.
The Buckle, Inc. Stock Fund - This fund invests in the common stock of
The Buckle, Inc.
VESTING - Participants are immediately vested in their voluntary
contributions plus actual earnings thereon. The remainder of their accounts
vest over a six-year period, as shown:
<TABLE>
<CAPTION>
PERCENT
YEARS OF SERVICE VESTED
<S> <C>
Two 20%
Three 40%
Four 60%
Five 80%
Six 100%
</TABLE>
PAYMENT OF BENEFITS - On termination of service, a participant may elect to
receive either a lump-sum amount equal to the value of his or her account,
annual installments over a five-year period, or payment in the form of an
annuity.
EXPENSES - Administrative expenses are paid by either the employer or the
Plan, in accordance with the terms of the Plan Services Agreement.
PLAN TERMINATION - Although it has not expressed any intent to do so, the
Company has the right under the Plan to discontinue its contributions at any
time and to terminate the Plan subject to the provisions of ERISA. In the
event of Plan termination, participants will become 100% vested in their
accounts.
C. TAX STATUS
The Plan is a participant in a Prototype Standardized Money Purchase Pension
Plan. This Plan has received a favorable tax status determination from the
Internal Revenue Service, which exempts the Plan from income taxes. The
Plan has been amended since receiving the determination letter. However,
the Company believes that the Plan is currently designed and being operated
in compliance with the applicable requirements of the Internal Revenue Code.
7
<PAGE> 10
D. INVESTMENTS
The following table presents the fair value of investments at January 31,
1996 and 1995. Investments that represent 5 percent or more of the Plan's
net assets are separately identified.
<TABLE>
<CAPTION>
1996
------------------------
NUMBER
OF SHARES FAIR
OR RATE VALUE
<S> <C> <C>
GUARANTEED INTEREST CONTRACT FUND:
United of Omaha and Others - Guaranteed:
Interest Income Fund 4 N/A $1,804,839
VALUE FUND:
The American Funds Group - Fundamental Investors
Fund 10 54,666 1,262,473
BALANCE FUND:
The American Funds Group:
The Income Fund of America 25,162 412,530
GROWTH FUND:
Fidelity Advisor Equity Growth Fund 38,236 1,458,910
Growth Equity Fund 7
COMPANY STOCK FUND:
The Buckle, Inc. 33,046 633,608
Reserve deposit account - 5,497
INTERNATIONAL EQUITY FUND:
The American Funds Group:
Europacific Growth Fund 32,789 797,219
AGGRESSIVE GROWTH FUND:
The AIM Family of Funds:
AIM Constellation Fund 41,164 947,074
LOAN FUND N/A 143,763
----------
$7,465,913
==========
</TABLE>
8
<PAGE> 11
D. INVESTMENTS (CONTINUED)
<TABLE>
<CAPTION>
1995
--------------------------
NUMBER
OF SHARES FAIR
OR RATE VALUE
<S> <C> <C>
GUARANTEED INTEREST CONTRACT FUND:
Fixed Income Fund:
First Capital Life Insurance, due 12/31/11 6.00 % $ 375,320
Hartford Life Insurance 8.00 % 251,942
Integrity Life Insurance, due 7/7/26 (#I89381194) variable 63,058
Integrity Life Insurance, due 7/7/26 (#I89381192) variable 210,195
Integrity Life Insurance, due 3/2/27 variable 194,445
Smith Barney Shearson - Guaranteed Interest Income Fund 4 54,757 639,350
MONEY MARKET FUND:
Smith Barney Shearson - Guaranteed Interest Income Fund 4 44,767 522,713
EQUITY FUND:
Smith Barney Shearson - Value Equity Fund 4 38,393 1,471,276
GROWTH FUND:
Smith Barney Shearson - Flexible Growth Equity Fund 7 25,246 1,174,390
COMPANY STOCK FUND:
The Buckle, Inc. 29,289 417,378
Reserve deposit account - 2,658
INTERNATIONAL EQUITY FUND
International Equity Fund 1 2,671 24,800
----------
$5,347,525
==========
</TABLE>
9
<PAGE> 12
THE BUCKLE, INC.
CASH OR DEFERRED PROFIT SHARING PLAN
SUPPLEMENTAL SCHEDULES
JANUARY 31, 1996
ITEM 27A - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
<TABLE>
<CAPTION>
COLUMN B COLUMN C COLUMN D COLUMN E
DESCRIPTION OF INVESTMENT,
INCLUDING COLLATERAL, RATE
IDENTITY OF ISSUE, BORROWER, OF INTEREST, MATURITY DATE, CURRENT
LESSOR OR SIMILAR PARTY PAR OR MATURITY VALUE COST VALUE
<S> <C> <C> <C>
GUARANTEED INTEREST CONTRACT FUND:
United of Omaha and Others
GIC Fund N/A $1,804,839 $1,804,839
VALUE FUND:
The American Funds Group -
Fundamental Investors 54,666 1,184,969 1,262,473
BALANCED FUND:
The American Funds Group:
The Income Fund of America 25,162 394,038 412,530
GROWTH FUND:
Fidelity Advisor Equity Growth Fund 38,236 1,488,615 1,458,910
COMPANY STOCK FUND:
Reserve Deposit Account: - 5,497 5,497
*Buckle, Inc. 33,046 546,252 633,608
INTERNATIONAL EQUITY FUNDS:
The American Funds Group:
Europacific Growth Fund 32,789 774,578 797,219
AGGRESSIVE GROWTH FUND:
The AIM Family of Funds:
AIM Constellation Fund 41,164 980,989 947,074
Loan Fund N/A - 143,763
-------------
Total Investments $7,465,913
=============
</TABLE>
* Party-In-Interest
10
<PAGE> 13
THE BUCKLE, INC.
CASH OR DEFERRED PROFIT SHARING PLAN
SUPPLEMENTAL SCHEDULES
ITEM 27d - REPORTABLE TRANSACTIONS
YEAR ENDED JANUARY 31, 1996
<TABLE>
<CAPTION>
SERIES TRANSACTIONS, WHEN AGGREGATED, INVOLVING AN AMOUNT
IN EXCESS OF 5 PERCENT OF THE CURRENT VALUE OF PLAN ASSETS
COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G
TOTAL TOTAL
DOLLAR DOLLAR
NUMBER OF NUMBER OF VALUE OF VALUE NET GAIN
DESCRIPTION OF ASSET PURCHASES SALES PURCHASES OF SALES OR (LOSS)
<S> <C> <C> <C> <C> <C>
Guaranteed Interest Fund I 4 - $3,841,616 $ - $ -
SINGLE TRANSACTIONS INVOLVING AN AMOUNT IN EXCESS
OF 5 PERCENT OF THE CURRENT VALUE OF PLAN ASSETS
</TABLE>
<TABLE>
<CAPTION>
COLUMN B COLUMN C COLUMN D COLUMN G COLUMN H COLUMN I
CURRENT
VALUE ON
PURCHASE SELLING COST OF TRANSACTION NET GAIN
DESCRIPTION OF ASSET PRICE PRICE ASSET DATE OR (LOSS)
<S> <C> <C> <C> <C> <C>
EQUITY FUND:
Fidelity Advisor Equity Growth Fund $1,146,822 $ - $1,146,822 $1,146,822 $ -
GIC Income Fund 4
VALUE FUND:
American Funds Service Co. Fundamental Investors Fund 1,452,731 - 1,452,731 1,452,731 -
INTERNATIONAL FUND:
Europacific Growth Fund 618,980 - 618,980 618,980 -
AGGRESSIVE GROWTH FUND:
AIM Constellation Fund 843,395 - 843,395 843,395 -
</TABLE>
11
<PAGE> 14
EXHIBIT A
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in Registration Statement No.
33-467834 and No. 33-07227 on Form S-8 of our report dated July 10, 1996,
appearing in this Annual Report on Form 11-K of the Buckle, Inc. Cash or
Deferred Profit Sharing Plan for the year ended January 31, 1996.
Deloitte & Touche LLP
Omaha, Nebraska
July 10, 1996
<PAGE> 15
THE BUCKLE, INC.
CASH OR DEFERRED
PROFIT SHARING PLAN
FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES
FOR THE YEARS ENDED JANUARY 31, 1996 AND 1995
AND INDEPENDENT AUDITORS' REPORT
