Senior Sergeant Anthony Bond said police were called to a commercial store in central Dunedin at 11.20am on Saturday after reports it had just been robbed.
A 28-year-old man allegedly entered the store to steal bladeless fans, which were worth about $600 each.
When confronted by employees, the man presented a firearm and held it into the air, Bond said.
He then left with the fans and police were called.
Officers made enquiries, located the man and executed a search warrant.
Two imitation firearms were located at his home address.
He will appear in court this morning charged with aggravated robbery and a historical matter.
Bond did not say what store the man allegedly robbed, but on Saturday morning police were photographed by the Otago Daily Times entering Farmers on Great King St after a firearms incident.