Phillip A. Collier, 40, of Brooklyn and Andre Lynch, 40, of Brooklyn were arrested shortly after the robbery on Monday afternoon.
Police say it was at 2:17 p.m. when an armed man, now identified as Collier, entered the store and confronted a clerk. Collier allegedly pulled a gun and ordered four female employees to fill a bag full of jewelry.
Collier then ordered the workers into a bathroom inside the office then fled from the store, police said.
Troopers were quickly given a description of the getaway vehicle and a license plate number.
The vehicle, described as a brown Ford Expedition with a Georgia license plate, was spotted on I-95 north of Churchman's Road.
Police followed the vehicle and stopped it on I-295 just prior to the Route 9 exit in New Castle at about 2:36 p.m.
They took two people into custody - the driver, identified as Lynch, and Collier.
The jewelry, valued at $160,000, was found inside the vehicle. Police say they also found a gun that was reported stolen from Virginia Beach, Va.
Collier and Lynch were arrested, charged and ordered to be held $978,000 cash bond each.