Big discounts helped lure holiday shoppers back to J.C. Penney, but it's too early to tell if the retailer is grabbing market share, Oppenheimer analyst Brian Nagel told CNBC on Monday.
"J.C. Penney is now reassuming a more price promotional strategy," the analyst said. "While this is a deviation from the initial strategy laid out by new CEO Ron Johnson, it is helping to drive better traffic to these stores and will position this company better as they reaccelerate their transformation plans in 2013."