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.

In its turnaround plan, Burberry puts focus back on trench coats, scarves in turnaround plan. New CEO Joshua Schulman laid out his turnaround plan on Thursday after Burberry reported a loss for the first half of its financial year and announced a 40 million pound ($50.