S recession hurting theretailer's pro it margins

PHI Mining Group (PMG) is committed to high standards inthe areas o en ironmental management and health and sa ety or itsemployees and neighboring communities. Web site: Harbor: This news release contains orward-looking statements thatare subject to certain risks and uncertainties that may cause actualresults to di er materially rom those projected on the basis o such orward-looking statements. (Recasts, adds stock price, details on di idend) Stocks NEW YORK, Jan 15 (Reuters) - Target Corp (TGT.N) said onThursday that Gregg Steinha el, its president and chie executi e, will take on the additional role o chairman whenBob Ulrich retires at the end o January. The change completes a management transition outlined lastyear when Ulrich reached the company's mandatory retirement ageo 65. At the time, Target said Steinha el, 53, would becomeCEO and Ulrich remain as chairman through the end o the iscalyear. The discount retailer said the chairman appointment ise ecti e eb 1. The changes come as Target struggles with declining salesand pro its.

Consumers ha e pared purchases o Target's trendyclothes and home decor amid a U.S recession, hurting theretailer's pro it margins. Target is also acing pressure rom in estor WilliamAckman, whose hedge und holds a roughly 10 percent stake inthe retailer, to boost its sagging stock price Its shares aredown 33 percent in the last 12 months. In October, Ackman proposed that Target spin o toshareholders a real estate in estment trust that would own theland on which the retailer's stores are built. Target rejectedthe proposal as "highly speculati e." Separately, the retailer also declared a quarterly di idendo 16 cents per share. In late morning trading, Target shares were down 6 cents at$33.64. RANK URT, Jan 15 (Reuters) - Adidas AG (ADSG.DE), theworld's No.

Adidas bought Reebok in 2006 to complement its strength inclassic sportswear such as soccer boots and to step up its ightagainst Nike (NKE.N), the world's largest athletic shoe andclothing maker Slowing demand in the U.S. market has been troubling Adidasand its peers or some months and Reebok posted a 15 percentdrop in third-quarter sales last year It is due to report ull-year results on March 4 Nike, the U.S. industry bellwether, is also eeling thepinch, recording second-quarter sales growth in all regionsexcept the United States, where re enue ell 1 percent. Adidas' local ri al Puma (PUMG.DE), owned by rench retailerand Gucci owner PPR (PTRP.PA), does not plan any job cuts in theUnited States so ar, a spokeswoman said. Adidas Chie Executi e Herbert Hainer told journalists on acon erence call in No ember that his company was "clearlydisappointed" with Reebok's per ormance at the time and he wascon ident the challenges Reebok was acing would be mainlyresol ed by March 2009.Despite the cuts, Adidas said it expects the group'swork orce to remain unchanged at about 37,000 by the end o 2009compared with end-2008 and ruled out job cuts in Germany. (Reporting by E a Kuehnen; Editing by Da id Cowell) Stocks Global Markets.