Following its fiscal third-quarter earnings announcement, Bed Bath & Beyond stock soared about 8% on Thursday.

On revenue of $1.88 billion, the corporation reported a loss of 25 cents per share. According to Investing.com, analysts expect EPS of 1 cent on revenue of $1.96 billion.

How Will Q4 Results Impact Bed Bath & Beyond's Stock?

The corporation blamed supply chain challenges for the earnings and sales shortfalls. "Overall sales were pressured despite customer demand due to the lack of availability with replenishment inventory and supply chain stresses that had an estimated $100 million, or mid-single-digit, impact on the quarter and an even higher impact in December," said Mark Tritton, the company's president, and CEO.

Tritton, on the other hand, was upbeat about the future, telling investors that the company's prospects were bright "As evidenced by our Beyond+ loyalty program, which grew by nearly half a million members after one of our largest new subscriber quarters, the Bed Bath banner's customer acquisition strategy is gaining traction. Our buybuy BABY banner is still growing in double digits, and we're on track to hit $1.3 billion in sales in our first year of transformation, well ahead of our investor day targets, all while improving profitability and market share."

According to TipRanks, BBBY predicts fiscal fourth-quarter net sales of $2.1 billion, which is below the $2.27 billion consensus, and EPS in the range of zero to 15 cents.

At the opening of Thursday's session, BBBY shares hit a high of $16.38.