A new report from Bank of America claims that the company has cut air conditioning in an effort to quickly lower expenses to make up for a slump in sales.

Bed Bath & Beyond told CNN that any changes in store temperature guidelines did not come from corporate. "We've been contacted about this report, and to be clear, no Bed Bath & Beyond stores were directed to adjust their air conditioning and there have been no corporate policy changes in regard to utilities usage," said a representative.

Still, analysts at Bank of America who have conducted store visits report mounting concerns, including labor hours that have been meaningfully cut, scaled back utilities, reduced store operating hours and canceled remodeling projects.