Dec 8 (Reuters) - Costco Wholesale Corp COST.O reported quarterly revenue on Thursday that missed analysts' estimates, with consumers cutting back spending on discretionary items such as jewelry and electronics against the backdrop of decades-high inflation. The membership-only retail chain's total revenue for the first quarter was $54.44 billion, compared with estimates of $54.64 billion, according to Refinitiv IBES data. (Reporting by Granth Vanaik in Bengaluru; Editing by Shounak Dasgupta) ((Granth.Vanaik@thomsonreuters.com; Twitter: https://twitter.com/Vanaik_Granth)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.