Detective Sergeant Rachel Gardiner said: “Shortly before 11:20am, it was reported that two men entered a shop in the area with one man armed with a knife .
A member of staff was threatened during the incident but although not injured, he was left badly shaken.
The two men made off with a sum of jewellery in a blue BMW towards the Victoria Street area following the incident.
“The vehicle was subsequently stopped and both men were arrested on suspicion of armed robbery.
“They are continuing to assist police with their enquiries.
“We are continuing to appeal to anyone who witnessed the incident to contact detectives in Coleraine on 101, quoting reference number 440 16/11/18. Alternatively, information can also be provided to the independent charity Crimestoppers on 0800 555 111 which is 100% anonymous and gives people the power to speak up and stop crime.”