Xcode 7.2 generates output only in the Debug folder when I run Product -> Build For -> Running. I'm not able to force Xcode to generate anything in the Release folder.
Also the outline entries under "Products" on the left side also point to /Users/XXX/Library/......./Products/Debug/....
How can I generate the Release target?
By default Profile and Archive build Release, so you could do Build for->Profiling to get a Release build.
You can also modify things to build different configurations, or add your own. Choose Product->Scheme->Edit Scheme. Then to make Run use the Release configuration, select Run on the left side and choose Release for Build Configuration on the right.