I haven't read the article (because it's locked), but I'm thinking this is just a reboot of their earlier efforts to earn some income off of all of the vacant office space that's on the upper floors of this big complex.
I'm sure that they have more retail space in the building than they need. I wouldn't be surprised if they eventually consolidated to four levels total -- the below grade martketplace, and three levels above grade. But I don't see any reason to think that they'd want to move out of the building completely. Downtown Minneapolis is on the upswing, and they're sitting on a great (if too big) piece of property, and they just need to figure out some ways to reconfigure the internal circulation within the building to open up some new revenue streams.
The article simply talks about them wanting to lease or sell the upper floors - which they've talked about for years. Their retail space is not discussed - except for suggesting that someone may buy the whole building and they'd lease the space back. Macy's has plenty of locations that probably don't pay for themselves - this may be one of them. But the high visibility of this store makes it more likely to stay open, even if under performing.
The company I work for (large retail) has several locations like this. Either the rents in very high profile locations are so high that it makes the store unable to be profitable, or it's just not desirable enough to lure enough people in to shop. But we won't close them. I suspect Macy's has many other worse-off stores than our downtown store!
that dt target is too big. it feels like a typical suburban store in spite of its two levels. i think at some point it will be converted to their city, urban concept.
I was one of the opening managers for the DT Target. I assure you that the store performs very well and is appropriately sized. I doubt they will downsize it, certainly not anytime soon.