Yesterday I bought two marked down Merino wool shirts at my local REI:
TNF Tolowa Lite Polo Shirt $40(marked down from $60)-with a collar, short sleeve, light grey color, lightweight 65%Merino wool/35% polyester suitable for hiking. Very nice well made shirt with a small pocket and snap front. I plan on using it for summer hiking. The large fits me well at 6' 1", 190 lbs.
The other one was a 100% Merino wool orange Ibex short sleeve t-shirt for $40. I don't see one at that price on the REI web site, but there were 4-5 at the Sacramento store sale rack. Again, the large is a good fit for me. It appears to be similar to the Ibex BBQ Art T-shirt as shown on the web site, which is on sale for $50.
Bottom line-check your local REI if you are interested in marked down Merino wool shirts!