If you have a subscription to a magazine in Newsstand and you are wanting to unsubscribe from it, you can not do it in the app, you have to do it in iTunes.
Open iTunes > iTunes Store > Click your Apple ID (normally your email address) on the top right > Choose Account from the drop down menu > You will be prompted for your password, log in > scroll to the bottom under the "Settings" area and you will see Subscriptions, click manage > Turn auto-renewal OFF.
Turning auto-renewal off will cancel your subscription.
If you have any questions feel free to contact me on Twitter @totalipad.
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