The Leather Factory Inc (Amex: TLF), international marketer and wholesale distributor of a broad leather product line, has reported a 27 per cent increase in net sales for the quarter ended March 31. Sales were $9,372,613, compared to $7,405,557 for the same quarter last year. Tandy Leather Company, a subsidiary of TLF acquired in November 2000, accounted for $1.8 million of the increase in sales. The Leather Factory also reported net income of $497,283 or $0.05 per share for the quarter, compared to net income of $383,942 or $0.04 per share for the first quarter of 2000.