Multiple textfields?

Simple question… I hope. How can one create multiple textfields? trying e.g.

 
var textvalue:TextField  = new TextField();
var format:TextFormat = new TextFormat();
format.size = 48;
textvalue.defaultTextFormat = format;
 
addChild(textvalue);
textvalue.text = "hi everyone";
 
addChild(textvalue);
textvalue.text = "hello world";

will only generate “hello world”. Apparently second overwrites first, no?
Anyone?
t.i.a
P