Burberry’s first half revenue of 1,086 million pounds declined by 20 percent CER, and 22 percent reported. Retail comparable store sales declined by 20 percent in the first half and the second quarter. Wholesale sales for the period were down 29 percent CER and 30 percent reported.

Burberry will use its British heritage appeal to win back customers by focusing on trench coats and scarves and be less ambitious with prices on bags and shoes, the loss-making luxury brand said in a revamp that sent its shares up sharply.

Troubled British fashion house Burberry on Thursday announced cost-cutting plans after posting a loss, with the global luxury sector pressured by weak Chinese demand. China is the world's biggest spender in the luxury sector,

Burberry will put the focus back on its core trench coats and scarves, be less ambitious with prices for bags and shoes, and use its British heritage appeal to win back customers, the struggling luxury brand said on Thursday in a strategy update.