<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, 1999
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 July 30, 1999 By /s/ Dennis H. Nelson
--------------- -------------------------------------
Dennis H. Nelson
President 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 of Contents
<TABLE>
<CAPTION>
(a) Financial Statements Pages
----------------------------- -----
<S> <C>
Independent Auditors' Report 1
Statements of Net Assets Available for Benefits
January 31, 1999 and 1998 2
Statements of Changes in Net Assets Available for Benefits
for the Years Ended January 31, 1999 and 1998 3
Notes to Financial Statements 4-9
(b) Supplemental Schedules
-------------------------------
Item 27a - Schedule of Assets Held for Investment Purposes - January 31, 1999 10
Item 27d - Schedule of Reportable Transactions - For the Year Ended
January 31, 1999 11-12
(c) Exhibits
-----------------
Exhibit A - Independent Auditors' Consent 13
</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, 1999 and 1998, 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,
1999 and 1998, 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 listed in the
Table of Contents 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. These schedules are the responsibility of the Plan's management. Such
supplemental schedules have been subjected to the auditing procedures applied in
our audit of the basic 1999 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 30, 1999
<PAGE> 4
THE BUCKLE, INC.
CASH OR DEFERRED PROFIT SHARING PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
JANUARY 31, 1999 AND 1998
- --------------------------------------------------------------------------------
1999 1998
ASSETS:
Cash and cash equivalents $ 31,101 $ 4,903
------------ ------------
Investments (Notes B and D):
Mutual funds 11,539,378 8,871,990
Common stock 3,023,019 2,424,209
Guaranteed investment contracts (Note G) 2,014,256 1,836,632
Participant loans 372,866 322,276
------------ ------------
Total investments 16,949,519 13,455,107
------------ ------------
Receivables:
Employer contributions receivable 989,531 820,215
Employee contributions receivable 71,456 49,850
------------ ------------
Total receivables 1,060,987 870,065
------------ ------------
Total assets 18,041,607 14,330,075
------------ ------------
LIABILITIES:
Accrued expenses (11,804) -
------------ ------------
Net assets available for benefits $ 18,029,803 $ 14,330,075
============ ============
The accompanying notes are an integral part of these financial statements.
2
<PAGE> 5
THE BUCKLE, INC.
CASH OR DEFERRED PROFIT SHARING PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
YEARS ENDED JANUARY 31, 1999 AND 1998
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
1999 1998
<S> <C> <C>
ADDITIONS TO NET ASSETS ATTRIBUTED TO:
Investment income (Note F):
Net appreciation in fair value of investments (Note D) $ 2,186,133 $ 1,741,735
Interest and dividends 537,829 1,027,304
----------- -----------
2,723,962 2,769,039
----------- -----------
Contributions (Note F):
Employees 1,225,764 1,015,120
Employer 989,531 773,388
----------- -----------
2,215,295 1,788,508
----------- -----------
Total Additions 4,939,257 4,557,547
----------- -----------
DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO:
Benefits paid to participants (Note F) 1,224,544 436,400
Administrative expense 14,985 5,450
----------- -----------
Total Deductions 1,239,529 441,850
----------- -----------
NET INCREASE 3,699,728 4,115,697
NET ASSETS AVAILABLE FOR BENEFITS:
Beginning of year 14,330,075 10,214,378
----------- -----------
End of year $18,029,803 $14,330,075
=========== ===========
</TABLE>
The accompanying notes are an integral part of these financial statements.
3
<PAGE> 6
THE BUCKLE, INC.
CASH OR DEFERRED PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
YEARS ENDED JANUARY 31, 1999 AND 1998
- --------------------------------------------------------------------------------
A. 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). In fiscal year 1998, the trustee for
the Plan was Grand Island Trust Company, and the recordkeeper was United
of Omaha Life Insurance Company. During fiscal year 1999, the Plan
appointed The Chicago Trust Company as the Plan trustee and recordkeeper.
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 $989,531 and $773,388 during the
years ended January 31, 1999 and 1998, 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.
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:
PERCENT
YEARS OF SERVICE VESTED
Two 20%
Three 40%
Four 60%
Five 80%
Six 100%
PARTICIPANT LOANS - Participants may borrow from their individual
contribution accounts subject to maximum limitations as defined in the
Plan. Loan terms range from one to five years or up to thirty years for
the purchase of a primary residence. The loans are secured by the vested
balance in the participant's account and bear interest at a rate based on
the published prime rate plus 1%. Interest rates range from 8.75% to
9.75%. Principal and interest are paid ratably through monthly payroll
deductions.
4
<PAGE> 7
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.
FORFEITED ACCOUNTS - Forfeitures of terminated participants' nonvested
accounts allocated to the individual accounts of participants remaining in
the Plan during the years ended January 31, 1999 and 1998, were $30,035
and $39,730, respectively.
B. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF ACCOUNTING - The accounts of the Plan have been prepared in
accordance with generally accepted accounting principles. The financial
statements were prepared in accordance with the financial reporting
requirements of the Employee Retirement Income Security Act of 1974 as
permitted by the Securities and Exchange Commission's amendments to Form
11-K.
VALUATION OF INVESTMENTS - The Plan's guaranteed investment contracts are
recorded at the accumulated value of the contract. Contract value
represents contributions made under the contract, plus earnings, less Plan
withdrawals and administrative expenses. Management of the Plan believes
that contract value approximates fair value for the guaranteed investment
contracts. The mutual funds, including the Company stock fund, are
recorded at quoted market value of stocks comprising them. Money market
accounts are recorded at the cash equivalent amount of which approximates
fair value. Participant loans are valued at cost plus accrued interest
which approximates fair value.
The net appreciation 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.
USE OF ESTIMATES - The preparation of financial statements in conformity
with generally accepted accounting principles requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the
date of the financial statements and the reported amounts of revenues and
expenses during the reporting period. Actual results could differ from
those estimates.
EXPENSES - Administrative expenses are paid by either the employer or the
Plan, in accordance with the terms of the Plan Services Agreement.
RECLASSIFICATIONS - Certain reclassifications have been made to the 1998
financial statements to conform with classifications used in the 1999
financial statements.
C. TAX STATUS
The Plan obtained its latest tax determination letter dated October 9,
1996, in which the Internal Revenue Service stated that the Plan, as then
designed, was in compliance with the applicable requirements of the
Internal Revenue Code (the Code). The Plan administrator believes that the
Plan is currently designed and is being operated in compliance with the
applicable requirements of the Internal Revenue Code. Therefore, they
believe that the Plan was qualified and the related trust was tax exempt
as of the financial statement date. Therefore, no provision for income
taxes has been included in the Plan's financial statements.
5
<PAGE> 8
D. INVESTMENTS
Participants may direct their contributions into any of the following
investment options:
Stable Value Fund - The Chicago Trust Company Stable Principal Value
Investment, United of Omaha Guaranteed Interest, and Hartford Life
Insurance: This fund is comprised of guaranteed investment and interest
contracts which provide a fixed rate of return. This fund was previously
composed of only the United of Omaha and the Hartford Life Insurance
investments when United of Omaha Life Insurance Company was the Plan
recordkeeper.
Balanced Fund - America Funds Group Income Fund of America: This fund
invests in both equity and debt securities.
Growth Fund - Montag & Caldwell Growth N: This fund invests in common
stocks, preferred stocks and convertible bonds of companies. This fund
was previously composed of the Fidelity Advisors Equity Growth Fund when
United of Omaha Life Insurance Company was the Plan recordkeeper.
International Equity Fund - America Funds Group EuroPacific Growth Fund:
This fund invests in equity securities of growth oriented companies
outside of the U.S.
Growth and Income Fund - Washington Mutual Investors Fund: This fund
invests in equity securities, generally in large, well established
companies and is also referred to as the Growth and Income Fund. This
fund was previously composed of the America Funds Group - Fundamental
Investors Fund when United of Omaha Life Insurance Company was the Plan
recordkeeper.
Aggressive Growth Fund - SsgA Small Cap Fund: This fund invests in
equity securities of small and medium sized U.S. companies. This fund
was previously composed of the AIM Family of Funds AIM Constellation
Fund when United of Omaha Life Insurance Company was the Plan
recordkeeper.
The Buckle Stock Fund - The Buckle Inc. Stock Fund: This fund invests in
the common stock of the Buckle, Inc. Within The Buckle Stock Fund, there
is a reserve depository account, which is held for liquidity purposes.
Approximately 1% to 5% of the total value of The Buckle Stock Fund is
held in this reserve depository account in order to have cash available
for potential distributions.
Index Fund - Vanguard Group Institutional Index Fund: This fund invests
in large established companies. This fund is a new fund that was added
during fiscal year 1999.
Global Fund - Janus Group Worldwide Fund: This fund invests in common
stock of foreign and U.S. companies. This fund is a new fund that was
added during fiscal year 1999.
6
<PAGE> 9
The following table presents the fair value of Plan investments which
exceed 5% of net assets available for benefits as of January 31, 1999 and
1998.
<TABLE>
<CAPTION>
1999 1998
---------- ----------
<S> <C> <C>
INVESTMENTS AT CONTRACT VALUE:
Stable Value Fund:
The Chicago Trust Company Stable Principal Value
Investment $ 886,142 $ --
United of Omaha Guaranteed Interest 769,454 1,504,469
INVESTMENTS AT FAIR VALUE AS DETERMINED BY QUOTED MARKET PRICE:
Growth and Income Fund:
The American Funds Group - Washington Mutual
Investors Fund 2,591,529 --
The America Funds Group - Fundamental Investors Fund -- 2,137,867
Balanced Fund:
The America Funds Group - Income Fund of America 723,213 684,763
Growth Fund:
Montag & Caldwell Growth N Fund 3,817,404 --
Fidelity Advisor Equity Growth Fund - Growth Equity Fund
Class T -- 2,562,652
The Buckle Stock Fund:
The Buckle, Inc. 3,023,019 2,424,209
International Equity Fund:
The American Funds Group - Europacific Growth Fund 2,330,059 1,744,584
Aggressive Growth Fund:
SsgA Small Cap Fund 2,021,627 --
The AIM Family of Funds - AIM Constellation Fund -- 1,742,124
</TABLE>
During 1999 and 1998, the Plan's investments (including investments
bought, sold, and held during the year) appreciated in value by $2,186,133
and $1,741,735, respectively, as follows:
<TABLE>
<CAPTION>
YEARS ENDED JANUARY 31,
-------------------------
NET CHANGE IN FAIR VALUE 1999 1998
<S> <C> <C>
Investments at Fair Value as Determined by Quoted Market Price:
Mutual Funds $1,704,702 $ 360,560
Common stock 481,431 1,381,175
---------- ----------
Net change in fair value $2,186,133 $1,741,735
========== ==========
</TABLE>
E. PLAN TERMINATION
Although it has not expressed any intent to do so, the Company has the
right under the Plan, to terminate the Plan at any time subject to the
provisions of ERISA. In the event of Plan termination, participants all
become 100% vested in their accounts. The Company may direct the Trustee
either to distribute the Plan's assets to the participants, or to continue
the Trust and distribute benefits as though the Plan had not been
terminated.
7
<PAGE> 10
F. FUND INFORMATION
Assets with similar investment objectives have been grouped together below
as described in Note D.
Investment income, employee contributions, employer contributions and
benefits paid to participants by fund are as follows:
<TABLE>
<CAPTION>
YEARS ENDED JANUARY 31,
------------------------
1999 1998
<S> <C> <C>
Investment Income:
Stable Value Fund $ 114,587 $ 116,573
Growth Fund 1,189,730 394,816
The Buckle Stock Fund 481,431 1,381,644
International Equity Fund 322,362 165,575
Growth and Income Fund 431,158 395,249
Balanced Fund 59,990 122,178
Aggressive Growth Fund 99,809 165,793
Index Fund 1,166 --
Global Fund 6,107 --
Loan Fund 15,400 27,211
Cash on Deposit 2,222 --
---------- ----------
$2,723,962 $2,769,039
========== ==========
Employee Contributions:
Stable Value Fund $ 105,239 $ 99,623
Growth Fund 242,235 198,759
The Buckle Stock Fund 201,183 139,214
International Equity Fund 191,892 163,068
Growth and Income Fund 161,384 141,189
Balanced Fund 67,853 62,597
Aggressive Growth Fund 244,731 210,670
Index Fund 4,531 --
Global Fund 6,716 --
---------- ----------
$1,225,764 $1,015,120
========== ==========
Employer Contributions:
Stable Value Fund $ 89,994 $ 76,276
Growth Fund 194,390 150,714
The Buckle Stock Fund 165,426 110,095
International Equity Fund 147,594 126,929
Growth and Income Fund 130,361 104,038
Balanced Fund 54,808 44,411
Aggressive Growth Fund 185,400 160,925
Index Fund 8,719 --
Global Fund 12,839 --
---------- ----------
$ 989,531 $ 773,388
========== ==========
</TABLE>
8
<PAGE> 11
F. FUND INFORMATION (continued)
<TABLE>
<CAPTION>
YEARS ENDED JANUARY 31,
------------------------
1999 1998
<S> <C> <C>
Benefits Paid to Participants:
Stable Value Fund $ 64,896 $ 45,634
Growth Fund 281,215 57,982
The Buckle Stock Fund 176,211 64,504
International Equity Fund 166,120 92,794
Growth and Income Fund 193,115 70,512
Balanced Fund 121,878 5,785
Aggressive Growth Fund 208,298 75,044
Loan Fund 12,811 24,145
---------- ----------
$1,224,544 $ 436,400
========== ==========
</TABLE>
G. GUARANTEED INVESTMENT CONTRACTS
The Plan has entered into various benefit responsive guaranteed investment
and interest contracts issued by insurance companies. These contracts are
included in the financial statements at contract value, which approximates
fair value. The crediting interest rate and yield at January 31, 1999
ranged from 5.40% to 8.00% and at January 31, 1998 ranged from 5.45% to
8.00%.
H. RELATED PARTY TRANSACTIONS
Plan investments include The Buckle Stock Fund which is invested primarily
in the stock of The Buckle, Inc., the Plan sponsor and, therefore, these
investments and actual transactions qualify as party-in-interest.
Certain guaranteed investment and interest contracts included in the
stable value fund are managed by United of Omaha Life Insurance Company or
The Chicago Trust Company. United of Omaha Life Insurance Company and The
Chicago Trust Company have been the trustee and/or recordkeeper as defined
by the Plan during fiscal year 1999 and, therefore, these investments and
actual transactions qualify as party-in-interest.
9
<PAGE> 12
THE BUCKLE, INC.
CASH OR DEFERRED PROFIT SHARING PLAN
<TABLE>
<CAPTION>
SUPPLEMENTAL SCHEDULE
JANUARY 31, 1999
ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
- -------------------------------------------------------------------------------------------------------------------------
COLUMN A COLUMN B COLUMN C COLUMN D
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
STABLE VALUE FUND:
*The Chicago Trust Company Stated Principal Value
<S> <C> <C> <C>
Investment Rates of 4.08% to 8.52% $ 886,142 $ 886,142
Hartford Life Insurance 8.00 % 358,660 358,660
*United of Omaha Guaranteed Interest 5.40 % 769,454 769,454
GROWTH AND INCOME FUND:
Washington Mutual Investors Fund 79,495 2,565,827 2,591,529
BALANCED FUND:
The American Funds Group:
The Income Fund of America 42,096 763,426 723,213
GROWTH FUND:
Montag & Caldwell Growth N Fund 121,650 3,242,225 3,817,404
THE BUCKLE STOCK FUND:
*The Buckle, Inc. 113,005 2,726,464 3,023,019
INTERNATIONAL EQUITY FUNDS:
The American Funds Group:
Europacific Growth Fund 79,173 2,283,878 2,330,059
AGGRESSIVE GROWTH FUND:
SsgA Small Cap Fund 108,282 2,090,154 2,021,627
INDEX FUND:
Van Guard Group:
Institutional Index Fund 145 15,903 16,998
GLOBAL FUND:
Janus Group:
Worldwide Fund 767 32,573 38,548
PARTICIPANT LOAN Rates of 8.75% TO 9.75% - 372,866
------------ ------------
Total Investments $ 15,734,706 $ 16,949,519
============ ============
</TABLE>
* Party-In-Interest
10
<PAGE> 13
THE BUCKLE, INC.
CASH OR DEFERRED PROFIT SHARING PLAN
<TABLE>
<CAPTION>
SUPPLEMENTAL SCHEDULE
ITEM 27d - REPORTABLE TRANSACTIONS
YEAR ENDED JANUARY 31, 1999
- ------------------------------------------------------------------------------------------------------------------------
SINGLE TRANSACTIONS INVOLVING AN AMOUNT IN EXCESS
OF 5 PERCENT OF THE CURRENT VALUE OF PLAN ASSETS
COLUMN A COLUMN B COLUMN C COLUMN D COLUMN G COLUMN H COLUMN I
TOTAL
VALUE
OF ASSET
ON
PURCHASE SELLING COST OF TRANSACTION NET GAIN
IDENTITY OF PARTY INVOLVED DESCRIPTION OF ASSET PRICE PRICE ASSET DATE OR (LOSS)
<S> <C> <C> <C> <C> <C> <C>
*The Chicago Trust Company The Chicago Trust Company Stable
Principal Value Investment $ 1,975,461 $ -- $ 1,975,461 $1,975,461 $ --
The American Funds Group Washington Mutual Investors Fund 2,408,178 -- 2,408,192 2,408,178 (14)
The American Funds Group Fundamental Investors Fund -- 2,403,654 2,394,804 2,403,654 8,850
Montag & Caldwell Montag & Caldwell Growth N Fund 3,179,228 -- 3,178,780 3,179,228 448
Fidelity Fidelity Advisors Equity Growth
Fund Class T -- 3,172,284 3,162,541 3,172,284 9,743
The State Street Global Advisors SsgA Small Cap Fund 2,081,222 -- 2,078,906 2,081,222 2,316
The AIM Family of Funds AIM Constellation Fund -- 2,080,141 2,080,141 2,080,141 --
* Party-in-Interest.
</TABLE>
11
<PAGE> 14
THE BUCKLE, INC.
CASH OR DEFERRED PROFIT SHARING PLAN
<TABLE>
<CAPTION>
SUPPLEMENTAL SCHEDULE
ITEM 27d - REPORTABLE TRANSACTIONS (continued)
YEAR ENDED JANUARY 31, 1999
- ------------------------------------------------------------------------------------------------------------------------
SERIES TRANSACTIONS, WHEN AGGREGATED, INVOLVING AN AMOUNT
IN EXCESS OF 5 PERCENT OF THE CURRENT VALUE OF PLAN ASSETS
COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G
TOTAL TOTAL
DOLLAR DOLLAR
NUMBER OF NUMBER OF VALUE OF VALUE OF NET GAIN
IDENTITY OF PARTY INVOLVED DESCRIPTION OF ASSET PURCHASES SALES PURCHASES SALES OR (LOSS)
<S> <C> <C> <C> <C> <C> <C>
*The Chicago Trust Company The Chicago Trust Company Stable
Principal Value Investment 37 44 $2,038,562 $ 82,796 $ 968
The American Funds Group Washington Mutual Investors Fund 31 62 7,507,440 4,944,621 3,008
The American Funds Group Fundamental Investors Fund 22 10 274,049 2,552,852 8,850
Montag & Caldwell Montag & Caldwell Growth N Fund 30 70 9,753,039 6,517,190 6,376
Fidelity Fidelity Advisors Equity Growth
Fund Class T 23 11 395,579 3,404,847 9,743
The State Street Global
Advisors SsgA Small Cap Fund 32 68 6,386,481 4,290,193 (6,134)
The AIM Family of Funds AIM Constellation Fund 22 12 387,285 2,271,309 -
</TABLE>
* Party-in-Interest.
12
<PAGE> 15
EXHIBIT A
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in Registration Statements No.
33-48402, No. 33-070633, No. 33-70641 and No. 33-70643 of The Buckle, Inc. on
Forms S-8 of our report dated July 30, 1999, 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, 1999.
DELOITTE & TOUCHE LLP
Omaha, Nebraska
July 30, 1999
