Molson Coors Beverage Co. said annual net sales will fall this year, blaming a challenging consumer environment in the US where its brands include Coors Light.

Molson Coors Beverage Co. reported Thursday third-quarter sales that missed expectations and said it now expects a decline for the year, amid weakness in the U.S. beer industry, but stressed that other factors weighing on results were just temporary.

Molson Coors on Thursday forecast lower full-year sales signaling that higher prices might be beginning to dent demand for the beer maker's brands such as Blue Moon and Coors Light especially in the United States.