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Richard Giss

Audit partner

Deloitte & Touche LLP

Specialty: Retail

Since his junior accounting days almost 30 years ago at Deloitte & Touche LLP, Richard Giss has eyeballed financial statements for retailers to ensure that those accounts receivables balance with the accounts payable. Today, in addition to being an auditor, he is also a highly regarded and widely quoted consultant who analyzes retail trends and passes on his observations to clients.

His first assignment at Deloitte & Touche was auditing the books for the Pic ‘N’ Save chain, which was bringing in $4 million in revenue. By 1997, the chain was generating $500 million before its parent, MacFrugal’s Bargain CloseOuts, was acquired by Ohio-based Consolidated Stores Corp.

“It’s something I sort of fell into. I became the retail guy,” said Giss, 50, who graduated from Southern Methodist University. “The more retail accounts I handled, the more they gave me.”

During his career as a consultant, Giss has served such retail giants as Bullock’s, Robinson’s, Buffum’s and Ralphs.

Part of his ability to spot trends stems from scouring stores and observing fickle consumers. He visits malls and outlets, looking to see what moves and what doesn’t. “I shop a lot, and hopefully I don’t buy that much,” he said, stressing the significance of interacting with clients. “It’s too easy to look at accounts and schedules and forget that this is a real, living business.”

Giss also sends out nationwide surveys tracking consumer spending patterns and how those patterns mesh with retail expectations.

He oversees about 20 accounts for companies ranging in size from $20 million to $2 billion in revenues, including Los Angeles-based women’s apparel retailers Carol Little and Kayo of California.

Pic ‘N’ Save is only one of Giss’ clients that grew exponentially, but he keeps his own accomplishments in perspective. “We can’t take the credit,” he said. “The real credit goes to the companies themselves for the products they have and sell. But we sort of take pride in watching them grow.”

Nola L. Sarkisian