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Hunting & Fishing Dunedin owner Scott Kunac said two men entered his Crawford St shop, before
one of them allegedly pocketed the sight.
When they were stopped at the door, one of the men allegedly threatened staff, Mr Kunac said.
"He said that he had a weapon on him and it freaked everybody out a little bit."
The pair then ran towards the nearby Oval sports ground, where a witness saw them enter bushes.
Police were called about 2pm.
Mr Kunac understood the armed offenders squad, which had recently been stood down from a call in Central Otago, was sent to the scene. Shortly after, officers caught the two men near the Oval, on the Andersons Bay Rd side.
He was bailed yesterday evening.
It was not known if his accomplice also faced charges.
Mr Kunac said it was the second incident at his shop in two days.
On Saturday, a man known to police as a "good shoplifter", and whose picture was on the store’s wall, also stole from the shop, but remained at large.
He refused to stop when he was caught at the door by staff, before driving off in his car at speed.
"And they nearly ran me over in the car park."
He and his staff were frustrated by the thefts, he said.
"They’re on CCTV camera the whole time, and yet they still pinch stuff from your store, and walk out of the store as if they owned it."
• Dunedin police (03) 471-4800, Crimestoppers 0800-555-111.