What should I do if my child has stolen some candy from a convenience store? How does one approach this situation?

I would firstly take it back to the shop as soon as I know what happened. If it is only after I get home, then I will talk to my child first and explain the situation and that what he/she did isn't right. I will also explain to my child that she or she needs to ask me first if they need anything from a shop. And that nothing is free. We have to pay for whatever we get from the shop. Once at the shop I would explain the situation to the shopkeeper and offer to pay for it. Hoping they will accept and apology and not take any other measures. I will also be prepared to write an apology letter just for the record. Of course, I will take my child along when going to the shop so he or she understands the whole situation.