Revenue at Burberry fell by 7% in the third quarter to £659m, the luxury fashion firm has announced.

Like-for-like sales in the Asia Pacific region fall by 9% year-on-year, while sales in the group's EMEIA region fell by 2%.

However, the Americas saw an increase in sales of 4% year-on-year, as Burberry said it was encouraged by its performance in New York.

The results come as the British firm initiated a "brand reset" in this period, including the "It’s Always Burberry" outerwear campaign and "Wrapped in Burberry" festive campaign.

Chief executive officer at Burberry, Joshua Schulman, said: Since launching Burberry Forward in November, we have moved at pace to advance our strategy to reignite brand desire, improve our performance and drive long-term value creation.

"These activations resonated with a broad range of luxury customers leading to an improvement in brand desirability and strength in outerwear and scarves. The acceleration of our core categories reinforces our belief that Burberry has the most opportunity where we have the most authenticity and that our strategic plan will deliver sustainable, profitable growth over time. However, we recognise that it is still very early in our transformation and there remains much to do."

Looking ahead, Burberry said that it was "acting with urgency" to stabilise the business and position for a return to "sustainable, profitable growth".

It added that while it recognises it is early in its transformation, it is "encouraged by the response from customers of customers and partners over the festive period".

Burberry stated that its second half results will "broadly offset the first-half adjusted operating loss".

Equity analyst at Hargreaves Lansdown, Aarin Chiekrie, said: "Burberry was holding out for a Christmas miracle, and while total third-quarter revenue still dipped by 3%, recent months have seen a sharp turnaround in performance, hinting at a much-needed comeback. Burberry’s now hopeful that its second-half results will broadly offset the £41mn of underlying operating losses suffered in the first half.

"The strategy reset seems to be the right move. It aims to return Burberry to its origin, outerwear, to help reignite demand for the famous British brand. But there’s still a long way to go, and newly minted CEO Joshua Shulman will have to dust off his trench coat and charge into the fray if he’s to gain ground on the competition."

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