Runner (Xiamen)'s low P/E ratio is due to its forecast growth being lower than the wider market. Investors believe the potential for earnings improvement doesn't justify a higher P/E ratio, potentially limiting future share price growth.

The addition of Woltering and other athletes reinforces Merrell's commitment to fostering a diverse and dynamic team. These athletes are expected to inspire outdoor enthusiasts worldwide and contribute to the brand's product development and innovation in the trail run space.

The declining ROCE and sales for Runner (Xiamen), coupled with increased capital employment, creates concern. The stock's decline over the past three years suggests that investors are recognizing these negative trends. It might be advisable to consider other investment options.