Complex sentence: Stern's closed its doors in 2001 after its parent company, Federated Department Stores, retired the brand; the store was converted to its sister brand, Bloomingdale's, which opened in late 2002.
Split into simpler sentences: Stern's closed its doors in 2001 after its parent company, Federated Department Stores, retired the brand. The store was converted to its sister brand, Bloomingdale's, which opened in late 2002.