I've come across these two publications recently, and they are stunning examples of fun, sophisticated design. Anorak is from the UK and is full of hilarious, graphic illustrations, comics and kids' fashion.
Milk is from France, but thankfully has some English translations in the back. It features amazing styling, art, and a very interesting fashion spread that would never fly in the in the states. Look closely in the fashion photo for bloody knife and flaming plane images. Even the styling of the kids, with their vacant expressions are "scary" by U.S. standards. On a more local note, "Cookie" magazine has a great, but short interview with one of my favorite artists, Ian Falconer.