Tesco in focus as opticians is sold to Vision Express

Tesco boss Dave Lewis sold off another of the retail giant’s divisions today, agreeing to hand over its opticians arm to Vision Express.

Tesco, which did not disclose the price of the deal, said the move would further “simplify its business”.

Tesco operates 206 opticians in its UK and Ireland stores and employs 1500 staff, all of whom will transfer to Vision Express as part of the sale. The deal must be approved by the competition watchdog.

Under Lewis, who was brought in in 2014 to revive Tesco after several profit warnings, the company has sold off a string of assets.

These include Turkish business Kipa, Korean arm Homeplus, coffee chain Harris + Hoole, Giraffe restaurants and Dobbies Garden Centres.

Last week the grocer reported a 30% rise in operating profit to £1.3 billion and its first increase in annual sales in the UK for seven years.

Lewis plans to pursue new growth opportunities and in January unveiled a £3.7 billion takeover of wholesaler Booker.

But the swoop has drawn criticism from some major shareholders, who fear Tesco is overpaying and could be distracted during a crucial time in its recovery.

The Booker tie-up is also expected to attract scrutiny from competition regulators.

Tesco has argued Booker’s franchise model means the grocer will have no influence over pricing at its stores.