Update: Major Tim Presley of the Olive Branch Police Department tells us the suspects have been caught:

The male and female that were in the Chevy Silverado pickup that committed the purse theft in the Olive Branch Wal-Mart lot at 10:22 am yesterday are in custody. See our Facebook page to see the videos of the Olive Branch Wal-Mart incident as it occurred. Our friends at Southaven PD caught them today. Good job Southaven PD!!! Bartlett PD is also suspecting these individuals of purse theft as well as the OBPD.