Can't recognize it but your sample is very distorted and in bad condition. May be it would be easier to upload the original artwork and to provide all information about your sample (website, brand, magazine...).

Didn't find all of these letters in a single font but here are two that have are similar to parts of the alphabet.
The S -- Bindlestiff NF, a revival of Schmallfette Binder-Style, by Nick Curtis http://www.myfonts.com/fonts/nicksfonts/bindlestiff-nf/
The N and M -- Strassenbahn by Maximilian Huber