It is not right nor is it fair....
...but it is the way things are in 21st century America and from what I've been seeing we are by no means the only nation dealing with this.
A while back, I commented here on situations such as this. Used to be a time when security and loss prevention personnel use to make arrests. I have done so myself in the past.
Times change.
I agree with the no pursuit policy in the majority of circumstances in this day and age. In many locales police won't even arrest or even respond to shoplifting calls anymore so what is the point of endangering yourself, your employees, or your customers if some knucklehead decides to pull out a firearm or knife and go nuclear? Your good deed for the day can run into hurt or dead people, bad press, litigation until the sun explodes, and for what? An overpriced t-shirt or such?
Stores these days just tack it on to the prices as a cost of doing business.
Inasmuch as a firearms was involved in this case, the Academy stores I have gone into are very rigid in their firearms policy...one at a time and they hold on to your ID. If you purchase, they walk you to the front...even if you pay at the firearms counter. If you still have shopping to do, they will hold the firearm at the firearms dept. until you finish and return. I just went through this a few weeks back. (and I like my CSX so much it is now my primary carry).
I've known and worked with LP's at various stores over the years and the times have changed. In some cases, if the perp does get caught, they get bail almost immediately and are right back...and sometimes with "friends" to as one LP told me "to teach us a lesson".
I heartly agree with a "no pursuit" policy in this day and age and even when I conduct training, I ALWAYS tell my trainees that they are not cops, everything you are guarding is insured, and NONE OF IT is worth your life or health.
For those that might take issue with my opinion here tonight, no I don't like it either, but it is the time of history we are living in.