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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Fvygunu1cfa+OHlbOzkuAQ7osMvkPh8KdhhMqLbATUFNwTJu9shjNrlApidpNJQ0
 UGSZ9/LeLsKbp6Uvlq0gng==

<SEC-DOCUMENT>0001140361-03-003507.txt : 20030926
<SEC-HEADER>0001140361-03-003507.hdr.sgml : 20030926
<ACCEPTANCE-DATETIME>20030926112652
ACCESSION NUMBER:		0001140361-03-003507
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030924
FILED AS OF DATE:		20030926

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LEATHER FACTORY INC
		CENTRAL INDEX KEY:			0000909724
		STANDARD INDUSTRIAL CLASSIFICATION:	LEATHER & LEATHER PRODUCTS [3100]
		IRS NUMBER:				752543540
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3847 EAST LOOP
		STREET 2:		820 SOUTH
		CITY:			FT WORTH
		STATE:			TX
		ZIP:			76119
		BUSINESS PHONE:		8174964414

	MAIL ADDRESS:	
		STREET 1:		3847 EAST LOOP
		STREET 2:		820 SOUTH
		CITY:			FT WORTH
		STATE:			TX
		ZIP:			76119

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			THOMPSON J WRAY
		CENTRAL INDEX KEY:			0001246376

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12368
		FILM NUMBER:		03911422

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 50429
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76105-0429
		BUSINESS PHONE:		8174964414

	MAIL ADDRESS:	
		STREET 1:		2803 WOODWIND DRIVE
		CITY:			ARLINGTON
		STATE:			TX
		ZIP:			76013
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2003-09-24</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000909724</issuerCik>
        <issuerName>LEATHER FACTORY INC</issuerName>
        <issuerTradingSymbol>TLF</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001246376</rptOwnerCik>
            <rptOwnerName>THOMPSON J WRAY</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>3847 EAST LOOP 820 SOUTH</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>FORT WORTH</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>76119</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector>
<isOfficer>1</isOfficer>
<isTenPercentOwner>1</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle>CEO</officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable>
<nonDerivativeTransaction>
<securityTitle>
<value>COMMON STOCK PV $0.0024</value>
</securityTitle>
<transactionDate>
<value>2003-09-24</value>
</transactionDate>
<deemedExecutionDate>
<value>2003-09-24</value>
</deemedExecutionDate>
<transactionCoding>
<transactionFormType>4</transactionFormType>
<transactionCode>S</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionTimeliness>
<value></value>
</transactionTimeliness>
<transactionAmounts>
<transactionShares>
<value>500000</value>
</transactionShares>
<transactionPricePerShare>
<value>3.50</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode>
<value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value>2101747</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value>D</value>
</directOrIndirectOwnership>
<natureOfOwnership>
<value></value>
</natureOfOwnership>
</ownershipNature>
</nonDerivativeTransaction>
<nonDerivativeHolding>
<securityTitle>
<value>COMMON STOCK PV $0.0024</value>
</securityTitle>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value>112584</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value>I</value>
</directOrIndirectOwnership>
<natureOfOwnership>
<value>BY ESOP</value>
</natureOfOwnership>
</ownershipNature>
</nonDerivativeHolding>
</nonDerivativeTable>
<remarks></remarks>
<ownerSignature>
<signatureName>WRAY THOMPSON</signatureName>
<signatureDate>2003-09-24</signatureDate>
</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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