Police say the incident happened on Sunday evening when a man and woman entered a store in the 2000-block of Prince of Wales Drive.
The woman allegedly placed merchandise in her purse without paying, before they both left, according to police.
A loss prevention officer attempted to make an arrest but the suspects dropped the stolen items and ran to a nearby vehicle, police say.
According to police, the driver of the vehicle pointed what they believe to be a firearm at the officer and drove away.
No one was injured in the incident, police say.
Police describe the male suspect, who accompanied the woman inside the store, as about five-feet-11-inches tall and 180 pounds. He had a goatee and was wearing a puffy jacket and a hat.
Police describe the female suspect as five-feet-six-inches tall and say she was wearing a black hoodie.
No description of the driver was obtained, other than being a male, police say.
Police say the suspects left in a red 2001 Dodge Dakota truck.
Anyone with information is asked to call the Regina Police Service at 306-777-6500 or Crime Stoppers at 1-800-222-8477 (TIPS).