Macy's has 13 Chicago-area stores, including its State Street flagship (that number doesn't include Bloomingdales and Bluemercury stores the company operates). Just because none were included in the first round of closures doesn't mean they might not be included in future cuts, said David Swartz, senior analyst at Morningstar, speculating that Macy's could have focused first on closing underproductive stores concentrated around certain regional distribution centers for logistics reasons.