UPDATE 1-Costco Q1 profit rises marginally

Dec 10 (Reuters) - Costco Wholesale Corp (COST.O) posted a slight increase in first-quarter profit on higher revenue.

The No. 1 U.S. warehouse club operator said profit in its fiscal first quarter ended Nov. 22 was $266 million, or 60 cents per share, compared with year-ago income of $263 million, or 60 cents per share.

Quarterly sales rose 6 percent to $16.92 billion, excluding membership fees, which increased 5 percent to $377 million. Sales at its clubs open at least a year -- a key retail gauge known as same-store sales -- increased 3 percent.

Analysts on average were expecting earnings of 60 cents per share, on revenue of $17.31 billion, according to Thomson Reuters I/B/E/S.

Costco has said that during the quarter, its sales were pressured by falling prices for food and electronics, while it saw improved sales trends in its hardlines category, which includes appliances, electronics, and sporting goods. (Reporting by A.Ananthalakshmi in Bangalore)