No one was injured and police are still investigating to determine if anything was taken.
Two youths are currently assisting police with their inquiries.
It was unclear whether the two incidents were linked.
The robberies in Whanganui follow an armed robbery of a dairy in Waikato earlier today.
Two men, at least one of whom was wielding an axe, entered the Horotiu Rd shop about 7.30am.
Police had not confirmed what was stolen but said no one was injured.
A stolen car, used by the men, was found nearby.
Officers believe the Te Kowhai robbery may be linked to an attempted robbery at Z Energy in Dinsdale, which happened a few hours earlier, about 4.30am.
"It is possible the same offenders, in the same vehicle, were involved in an incident at the Z energy in Dinsdale around 4.30 this morning," a police spokesperson said.
"Nothing was stolen in that incident, however a window was damaged."