Nordstrom has signed a letter of intent to open a new store at Fashion Island, Orange County’s premier luxury coastal shopping destination, officials announced today.

The 138,000 square-foot store will join anchors Neiman Marcus, Bloomingdale’s and Macy’s, upping the luxury factor at the Newport Beach shopping center. The Nordstrom store, scheduled to open in spring 2010, will occupy a new building in the former Macy’s Women’s space.

“We are committed to continuing Fashion Island’s development as the finest coastal luxury shopping experience,” said Keith Eyrich, President, The Irvine Company Retail Properties. “Nordstrom is one of the nation’s leading fashion retailers, and a perfect fit for Fashion Island’s discerning customer.”

Newport Beach city officials said they and their families are thrilled about the news.

“I said that 2008 would be a great year for Newport Beach,” said Mayor Ed Selich. “What a terrific start: welcoming everybody's favorite store, Nordstrom, to everybody's favorite place to shop, Fashion Island. I'm sure Newport Beach residents will react the same way as my daughters have – and they are still cheering.”

Chamber of Commerce President Richard Luehrs credited the Mayor and City Council for their leadership on the general plan update, which was approved last year and paves the way for future enhancements in Newport Center and elsewhere.

“Everybody loves Nordstrom and the business community is thrilled they are finally coming to Newport Beach,” Luehrs said. “The recent update to our general plan ensures Fashion Island will remain a terrific luxury shopping destination and for that the Mayor and City Council should be commended. Fashion Island’s success benefits us all by providing a luxurious place to gather and shop – and through the sales tax revenue generated by its shops and restaurants.”

“Fashion Island is an outstanding center and one that we have admired for a long time,” said Erik Nordstrom, president of stores for Nordstrom. “We feel fortunate to have many loyal customers in Orange County, and we’re thrilled at the opportunity to better serve them with an additional store in an incredible location.”

In addition to Nordstrom, Fashion Island is also investing in building new space to accommodate merchants like luxury food retailer Dean & DeLuca, which will open its west coast flagship store in 2009.

Nordstrom, Inc. is one of the nation’s leading fashion specialty retailers, with 156 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 101 full-line stores, 50 Nordstrom Racks, two Jeffrey boutiques, one freestanding shoe store and two clearance stores. Nordstrom also serves customers through its online presence at www.nordstrom.com and through its catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN.

Fashion Island, owned by The Irvine Company and located on the Newport Beach coast, is Southern California’s premier open-air luxury retail center. Fashion Island has nearly 200 unique and designer boutiques, restaurants and Orange County’s only Neiman Marcus, Kate Spade and Juicy Couture, as well as Bloomingdale’s, Bloomingdale’s Home Store and Macy’s. For more information visit www.ShopFashionIsland.com.

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