Police have been responding to reports of armed robberies in Oxford Street and Norfolk Street in Swansea.
They were called just after 9am on Saturday morning.
A man on Oxford Street was threatened by a male suspect who then took off with a cash box.
A man was taken to hospital for treatment. He has since been released with minor injuries.
A second incident took place in Londis on Norfolk Street, just a few minutes later.
A male suspect ran from the scene empty handed.
A woman on the scene was not injured.
Armed officers have been dealing with the incidents "to ensure the safety of the public and officers in the area".
Police said arrest enquiries are ongoing.