Wasn't it a short-lived discount supermarket - a Walmart for Europe of sorts?
I guess in this context (did a presenter say it?) it was a nod to the lazy-instant gratification youth culture of the time (of any time?!), a theme possibly found in Pulp's own notes on the Lipgloss single ("Welcome to the new era. Now we all live on cosmetics and garage food...We might look rough but we've got beautiful insides. But everything's going to be alright. Just as long as you mind the low-flying televisions.").
Yes that's right. We have another discounter in Germany with the very german Name "Penny".
What do you think about my line out of "After you"? That song came immidiatly in my head when I read the word "Netto generation"