Complex sentence: By the time the record was re-distributed into stores, the album was re-distributed nearly at the same time as "Sgt. Pepper's Lonely Hearts Club Band" in June 1967, by which time it faced stiff competition in the marketplace which further hindered the release.
Split into simpler sentences: By the time the record was re-distributed into stores, it faced stiff competition in the marketplace. The album was re-distributed at nearly the same time as "Sgt. Pepper's Lonely Hearts Club Band" in June 1967, which further hindered the release.