The end of the consumer spending boom on Britain's High Street was signalled yesterday by Marks & Spencer chairman Sir Richard Greenbury, reporting a sharp setback in June sales at the company's annual meeting, writes Sebastian Taylor in London.

Sir Richard said trading conditions had been mixed "with falling tourism and appalling weather in June". In Ireland, Sir Richard said sales in local currency had been "reasonable in light of the trading conditions". But the strength of sterling continued to affect values and profitability.