It grew into a chain largely located in the Memphis metropolitan area, until 2005, when the nameplate was eliminated and replaced by Macy's.

In 1952 Goldsmith's renovated its downtown location, expanding into the adjoining former Gayoso Hotel and adding a new facade.

At the same time, another 2 story retail addition was constructed to the north of the original building which eventually became the Goldsmith's furniture gallery.

[2] Goldsmith's continued to branch out with the construction of its 130,000 sq ft (12,000 m2) Southland Mall location, which opened on August 23, 1966.

August 1971 saw the opening of the fourth Goldsmith's store, located at the new Raleigh Springs Mall in north Memphis.

Goldsmith's was acquired by Federated Department Stores in 1959, and added in 1988 to an Atlanta, Georgia-headquartered division led by that city's Rich's chain.

Macy's current employee volunteer program, Partners in Time, was founded in 1989 at Goldsmith's (and Rich's) as a way to give back to the community.

The famous cursive-script logo was designed by Margaret Grace, a Goldsmith's advertising employee, in October 1946.

The Downtown location is now home to the Belz Museum of Asian and Judaic Art and the Center for Southern Folklore.