Burberry’s pivot back to its roots is working as shares jump 15% following better-than-expected sales

people walking past a burberry store (Credit: Mike Kemp—In Pictures/Getty Images)

Burberry’s third-quarter sales were better than expected, indicating that the company is on the road to recovery amid a cost-cutting plan and strategic overhaul.

The troubled British trenchcoat maker struggled for much of the last three years to lure in shoppers as the luxury sector reeled from a pull-back in spending. That dragged Burberry out of the FTSE100 and caused its shares to nosedive.