Campbell Soup plans a year of investment

Campbell Soup Co. is trying to reinvigorate its brand of soups and other products and go after a new generation, a move the company says could mean higher prices for consumers and a year of lower profits for investors.

Denise Morrison, who takes over as CEO on Aug. 1 when Douglas Conant steps down after more than a decade, outlined a new approach Tuesday that entails adding products, changing the recipe of others and expanding internationally.

Morrison said the company, which is known for its red and white cans, wants to build up U.S. sales to Hispanic consumers and millennials, the generation born after 1979.