J Sainsbury chief Justin King to attack Waitrose over discount promotion Justin King, chief executive, is likely to criticise its rivals, notably Waitrose, which has attempted to steal a march on the supermarket group with own discount scheme. Waitrose last week promised to lower the price of thousands of prices, by matching Tesco on price on 7,000 branded products, in a clear attempt to win over Sainsbury's shoppers. However, Mr King is expected to retaliate by claiming his rival's scheme has too many caveats to offer meaningful discounts - most notably, Waitrose excludes any offers, such as two-for-one, from its promise. Mr King has credited his own Brand Match scheme, which matches prices against both Asda and Tesco - and gives out the difference if rivals are cheaper - as one of the key reasons why it has produced the best sales growth of the Big Four supermarket groups. It has given out millions of vouchers to its customers since the Brand Match scheme started. Sainsbury is expected to post record full-year profits of £707m pre-tax, up from £657m the year before. Its strong performance is in contrast to Tesco, which unveiled last month its first fall in UK profits for at least 30 years, and Wm Morrison, which posted its first fall in like-for-like sales since 2005. Mr King is expected to be cautious on the economy and consumer spending. Sainsbury will join the call to halt "the race for space," which has seen hundreds of new supermarkets open every year. Earlier this year, Tesco said it would stop the building on large-scale hypermarkets, while Morrison has called supermarkets' landbanks "albatrosses around our necks." Sainsbury's is expected to scale back on the number of new supermarkets it is opening over the next year or so, as its three-year capital expenditure programme comes to an end. It added about 1.5m square ft of supermarket space through new stores or extensions to existing ones in the 2010-2011 financial year and 1.4m sq ft in the year to March 2012. It is likely to add just 1m sq ft each year this year.