Bapcor Ltd (ASX: BAP) shares are getting a lot of attention on Wednesday.

In morning trade, the ASX 200 stock is down 1.5% to $5.11

Why is this ASX 200 stock pushing higher?

Investors have been buying the $1.7 billion automotive products retailer's shares on Wednesday following the release of a trading update ahead of its annual general meeting.

According to the release, the company has been focusing on simplification and the basics of running its businesses well. This is part of its aim to enhance growth, to re-set the cost base, and drive a more efficient business that benefits customers.

Management notes that the ASX 200 stock is well progressed on the operational improvements. Completion of the previously announced headcount reductions has occurred, and it has exited operations from a quarter of its planned warehouse consolidations to its central state based distribution centres.

These actions are expected to deliver savings of $20 million to $30 million in FY 2025. This is expected to be skewed to the second half. It notes that savings from the headcount reductions are coming through in the first half of FY 2025 and the savings from the distribution centre rationalisation will be weighted to the second half of the financial year.

What about its financial performance?

Bapcor's performance has been a touch disappointing so far in FY 2025. The release reveals that the ASX 200 stock's total revenue at 30 September was up 0.7% over the prior corresponding period.

This is a significant deterioration on its performance early in the first quarter. When Bapcor released its full year results in August, it advised that group total revenue for the first five weeks of FY 2025 was up 7.7% and up 1% on a like for like basis. Clearly the rest of the quarter since that release has been much tougher.

Management notes that Bapcor's Australian trade and Specialist Networks businesses are performing well. However, the retail environment, and its performance in it, continues to be more challenged.

Based on this subdued start to the financial year, investors appear concerned that FY 2025 could be another disappointing year for the company. As a reminder, in FY 2024 Bapcor reported a statutory loss of $158.3 million and a 24.3% decline in pro forma net profit after tax to $94.8 million.

Following today's decline, this ASX 200 stock is now down 24% since this time last year.