Carrefour shares were up 3.9 percent in early trading.

Late on Tuesday, Carrefour published fourth-quarter sales of 22.6 billion euros (£19.8 billion), in line with forecasts. The company added it was on track regarding a broader strategy plan to boost its results by 2022.

"Carrefour's Q4 sales confirmed ongoing European challenges, but less dilution than feared from French protests," wrote brokerage Jefferies, which retained its "hold" rating on the stock.

(Reporting by Sudip Kar-Gupta; editing by Jason Neely)