RETAILING

Macy, Federated Officials Confer: R.H. Macy & Co. executives, who have opposed Federated Department Stores’ plan to merge the two retailers, have begun meeting with Federated officials to hear details of the proposal, sources said. But after their first meeting last Friday, “we still believe our plan would offer the most recovery to the creditors,” a Macy official said. The rival retailers have been trying to win support from Macy creditors for competing bankruptcy reorganization plans. Macy’s proposal provides for the company to return to public ownership under current management. But Federated wants creditors to accept a plan that calls for Federated to take over its rival.