Five pupils were robbed at knifepoint in two separate incidents in Kenilworth last week.
A male with a knife threatened two pupils on Leyes Lane at 8am on Thursday November 8, and demanded they hand over their valuables.
And just 40 minutes later, three more pupils were threatened by a male with a knife at the St Johns bus stop on Warwick Road. They were also forced to hand over valuables.
It is not yet known what school the threatened pupils went to, and if the two incidents were linked or not.
Warwickshire Police have been contacted for further comment.
Anyone with any more information should contact Warwickshire Police on 101, quoting incidents 70 and 89 of Thursday November 8.