FOCUS: Uniqlo operator beefs up overseas markets for world No. 2 apparel retailer

TOKYO - The operator of the Uniqlo clothing chain is expected to become the world's second-largest apparel retailer as it pursues a strategy to expand its appeal beyond affordable clothing to distinctive functional wear.

Fast Retailing Co. on Thursday reported record sales of 3.96 trillion yen ($25 billion) for the year ended Aug. 31. Analysts expect the figure to position the Japanese company to narrowly overtake Sweden's clothing retailer H&M Hennes & Mauritz AB to grab the world's No. 2 spot.