Tiffany (TIF) posted another set of glittering numbers Monday. The New York-based jewelry chain made $118 million, or 89 cents a share, for the fourth quarter, down from $140 million, or $1.02 a share, a year ago. Excluding certain charges, though, earnings were $1.27 a share in the latest quarter, beating the $1.21-a-share Wall Street estimate. Sales rose 10% from a year ago in the fourth quarter, with same-store sales rising 1%, fueled by a 10% gain at the company’s flagship Fifth Avenue store in Manhattan. “Despite current uncertainties related to consumer confidence in the U.S.,” said CEO Michael Kowalski, “we will continue to take advantage of our strong balance sheet and infrastructure to pursue our planned expansion opportunities worldwide.” The company said it expects to make $2.75 to $2.85 a share for the year, well above the $2.49-a-share analyst estimate. Tiffany shares rose 11% in early trading.

Another day, another sign of weakness in consumer spending. Tiffany (TIF) said Friday morning that December sales in established U.S. stores fell 2 percent from a year ago, despite a 10 percent sales surge at the company’s flagship Fifth Avenue store that was driven by euro-toting tourists.

The news won’t come as a shock to investors, who have driven Tiffany shares down near their 52-week low as other retailers have been showing distress signs. Even so, coming on top of Thursday afternoon’s soft profit numbers from high-end card company American Express (AXP), the Tiffany report offers another timely warning sign about the financial health of the U.S. consumer.  “We believe a recent pullback in U.S. spending likely reflected a more cautious attitude among customers about the near-term direction of the economy and related factors,” Tiffany said. The company also said it is “further analyzing our sales and earnings growth objectives for 2008″ - suggesting it may rein in its plans in March when it shares its outlook with Wall Street.