Officers say the shoplifting happened around 10:30 am Tuesday at a store on Clovis and Herndon.
Store employees told police the suspects were leaving the parking lot, and officers pulled over the suspects car.
They sped away and a brief pursuit started.
It was canceled near Bullard and Highway 168.
Officers used Fresno Police's Air One helicopter to find the suspects.
24-year-old Aliza Vega-Estrada and 25-year-old Matthew Schwarz were both arrested.
Vega-Estrada was found with a handgun and her toddler with her.
Schwarz has been a wanted gang member since 2019.
Both suspects were booked into Fresno County Jail for felony child endangerment, shoplifting and conspiracy.
The children they share are in the custody of Child Protective Services.