Business News

Retailer Barneys signs $525,000 NY settlement

A Barneys New York logo is pictured as a woman enters their 5th Avenue store in New York.
Daniel Acker | Bloomberg | Getty Images

The upscale retailer Barneys has agreed to pay $525,000 to settle allegations of racial profiling at its Madison Avenue flagship store.

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The Daily News said Barneys also will hire an "anti-profiling consultant" for two years, update its detention policy and improve training of security and sales personnel.

New York Attorney General Eric Schneiderman says the agreement will prevent mistakes from being repeated.

CEO Mark Lee says Barneys is pleased with the settlement.

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He says the company prides itself on providing unparalleled service for all customers and has no tolerance for any kind of discrimination.

The agreement was signed Friday.

By The Associated Press