RETAILING

* Federated Department Stores Inc. said it will hire closely held Service Resources Inc. of Atlanta to manage its 450 retail properties, cutting costs by about $25 million a year. Federated, which owns the Bloomingdale’s and Macy’s chains, among others, said the outsourcing agreement is the largest in the U.S. retail industry. Federated will cut 1,300 people from its payroll but expects Service Resources will rehire most of them by the fall.