Canceled! Barneys calls off Jay Z's holiday fundraiser that promised to raise $1m for his charity after mass furor over racial profiling claims

Jay Z won't be dropping by Barneys Holiday Party in New York on Wednesday.
On Tuesday the New York Daily News announced the department store chain has canceled the event which guaranteed to raise $1m for the rapper's Shawn Carter Foundation.
The store - which blamed the cancellation on 'unforeseen circumstances' - has been accused of racial profiling this year.

Troubled: Jay Z looked pained on Monday after he decided to participate in Barneys Holiday Party on Wednesday even though the store was accused of racial profiling, but by Tuesday the fete was canceled anyhow

What a loss: Jay Z, seen here heading to a studio in SoHo, would have raised $1m for his charity

This comes just after the megastar stood by the expensive New York store just days ago.
In a statement made on his website Friday, Jay Z said he'd agreed to attend the party, which also served as the launch for his BNY SCC fashion collection, under the condition that he helped lead the store's review of its policies.
'The easy position would have been to walk away and leave policy making to others hoping that someone addresses the problem. I will not leave the outcome to others,' he wrote in a statement posted to his website.
The rapper-turned-mogul said that one of the stipulations for his continued support of the store was that he be given 'a leadership role and seat on a council specifically convened to deal with the issue of racial profiling'.
'I am in a unique position to use my voice to affect change to this disturbing issue,' he wrote.
'I will take this into my own hands with full power to recommend, review and revise policies and guidelines moving forward. I am choosing to take this head on.'
It's not clear if Jay Z will still get involved with those policies now that the party has been canceled.
On Monday he looked pained as he entered a SoHo music studio carrying a computer and phone.
Last month, two black customers separately accused the luxury store of racial profiling after they said they lawfully purchased expensive items but were detained by police on suspicion of credit card fraud.
Trayon Christian sued Barneys, saying he was accused of fraud after using his debit card to buy a $349 Ferragamo belt in April. Kayla Philips filed a notice of claim saying she would sue after she was stopped by detectives outside the store when she bought a $2,500 Celine handbag in February.

Accountability: Barney's is under investigation and says that if any racial profiling behavior is discovered they will fire the individuals involved

Rob Brown, an actor who appears on the HBO series 'Treme,' also filed a lawsuit in October against Macy's, alleging he'd been similarly detained and questioned after he was stopped for possible credit card fraud while shopping at the department store. Brown is black.
Macy's has said none of its employees were involved in Brown's detention and questioning. On Friday, Barneys said its own investigation has determined none of its employees were involved in stopping Christian or Philips.
An investigation by the state attorney general's office is 'ongoing and active,' a spokeswoman said Friday.

All dressed up and nowhere to go?: The rapper, seen here with wife Beyonce in June, was sure to bring star power to the shindig

Brown, one of the stars of HBO show Treme, was released after being in cuffs for about 45 minutes without any charges

New York Police Department Commissioner Raymond Kelly has said it is standard practice for retailers to call police if they believe crimes have been committed. The NYPD didn't immediately respond to a message seeking comment Friday.
Jay Z's decision to not immediately bow out of his Barneys collaboration when the racial profiling allegations surfaced drew a firestorm of criticism on Twitter and an online petition that urged the rap mogul to bow out.
He said 100 percent of sales from the collection of clothes, accessories and jewelry would go toward his charitable foundation, which supports educational opportunities for disadvantaged students, and an additional 10 per cent of all Barneys' sales during Wednesday's launch day will also be donated.
Barneys New York said in a statement that it guaranteed raising a minimum of $1 million Wednesday to be donated to the foundation.
'Barneys New York has zero tolerance for any form of discrimination,' the statement said.
'As we have stated all along, if we learn any procedures or practices are not consistent with our zero-tolerance policy, we will immediately take corrective action including terminating those employees responsible.'