Not likely. The 4 for $199 is their usual price. Occasionally you'll get a bonus offer to add another shirt to your four for an additional $49.75. A few days each year they sell the shirts for full price, which is higher rather than lower. Before I went back to school, I bought five each year. I was in banking, so I wore a dress shirt at least six days a week. Those would last me the whole year before they started getting a little rough.
Typically stores run sales at the same time of year, I haven't ever kept up with CT, but now that I have a groupon that expires in Oct, I want to make the most bang for my buck.
Living social often has deals where if you spend $50 you get $100 at CT. These are useful for shopping the sale section. Note though that you cannot combine this deal with other codes typically.